Vince McMahon was officially reinstated to the WWE board of directors. You can read more details by clicking here.
WrestleVotes stated that Stephanie McMahon issued an email to all employees in the morning and told her father Vince McMahon is returning to the board.
“An email was sent at 10:43am this morning by Stephanie McMahon to all WWE employees with the statement ‘Today, WWE announced the return of our founder Vince McMahon to our Board of Directors”
Later, Stephanie McMahon, Nick Khan and Paul “Triple H” Levesque jointly issued the following statement to the media regarding Vince McMahon’s comeback. In the statement, they also welcomed the newly appointed board of directors Michelle Wilson and George Barrios to the company.
It was also noted that JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler are removed from the Board, and Ignace Lahoud and Man Jit Singh have decided to resign from the board. According to Sean Ross Sapp of Fightful, Man Jit Singh was the lead investigator of McMahon’s hush money scandal.
Here’s the full press release.
STAMFORD, Conn., January 6, 2023 – WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.
“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”
As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities.”
In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.
Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.
The Board currently consists of:
Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.
We will update you when we receive more details. Stay tuned with The Spotlight.