Update: It’s official. Vince McMahon used his significant voting power to re-elect himself to the WWE Board of Directors, along with allies, former co-chairs and managers Michelle Wilson and George Barrios. The changes were officially made this morning, with three current board members being removed from their positions to make room. Full details can be found at The Securities and Exchange Commission filing is available here. It is worth noting that McMahon has been “retired” for less than six months. The original story continues below.
last year, Vince McMahon quit of his executive and creative responsibilities at World Wrestling Entertainment amid an ongoing sexual misconduct investigation. Since then, daughter Stephanie McMahon has stepped up to be co-CEO of the company, along with Nick Khan, while son-in-law Paul “Triple H” Levesque has assumed creative control of the company’s product. This could all change, though, as McMahon is planning a comeback.
According to a new report from Wall Street JournalMcMahon is looking to return to the company’s board of directors and bring allies to the board in the form of former WWE presidents and managers Michelle Wilson and George Barrios. According to the WSJ, the move is to seek to sell the company. Currently, McMahon has majority voting in the company due to the shares he owns.
As the WSJ explains, McMahon has told the board that he intends to use his voting power to elect himself, Wilson, and Barrios to the board. Previously, McMahon’s efforts to return had been rejected by the board of directors. It’s also worth noting that the three returning will mean that three current directors will have to vacate their roles, though there’s no word on who they will be.
As for why this is happening now, WWE’s television rights deals with both NBC Universal and Fox are set to expire soon, which means the company will be looking to land big deals for its Raw, Smackdown, and NXT programming. In a letter to the board of directors, according to the WSJ, McMahon stated that his intention is to go back to a strategic review process to assess whether WWE is a good target to sell. He further noted that “Unless he had a direct role as CEO from the start of a strategic review, he would not support or approve any media rights deal or deal.”
News of the investigation into McMahon’s behavior was first reported by the Wall Street Journal last year. It was reported that McMahon paid an employee with whom he had an affair. It was reported later in July that he did Paid $12 million in settlements for women since 2006.
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