In an announcement that surprised many Tuesday, co-chief executive and chairwoman of the board Stephanie McMahon resigned from World Wrestling Entertainment.
In a statement released on Twitter, McMahon said:
“About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my co-CEO, Nick Khan.
“Our founder, Vince McMahon, has returned as the Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick’s leadership and Paul “Triple H” Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.
“WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.”
The resignation comes days after her father, Vince McMahon, returned to the company after retiring in July amid an investigation into allegations that he had sexual relationships with employees at the company and subsequently paid those women millions of dollars as part of their severance packages. After his departure, WWE disclosed multiple expenses that McMahon hadn’t reported, totaling $19.6 million. That forced the company to revise its financial statements for 2019, 2020 and 2021.
Using his controlling stake in the company, McMahon on Jan. 5 installed himself and two former executives back on the WWE board of directors.
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