Stephanie McMahon resigns from WWE

In an announcement that stunned many Tuesday, co-chief government and chairwoman of the board Stephanie McMahon resigned from World Wrestling Leisure.

In an announcement launched on Twitter, McMahon stated:

“About 8 months in the past, I took a go away of absence and inside just a few weeks, unexpectedly had the chance of a lifetime. I had the privilege to return because the Co-CEO and Chairwoman of the Board of WWE. I can not put into phrases how proud I’m to have led what I think about to be the best firm on the earth, working alongside a outstanding management workforce and one of many strongest executives I’ve identified in my co-CEO, Nick Khan.

“Our founder, Vince McMahon, has returned because the Government Chair and is main an thrilling course of relating to strategic alternate options. And with Nick’s management and Paul “Triple H” Levesque as Chief Content material Officer, I’m assured WWE is within the good place to proceed to offer unparalleled artistic content material and drive most worth for shareholders.

“WWE is in such a powerful place, that I’ve determined to return to my go away and take it one step additional with my official resignation.”

The resignation comes days after her father, Vince McMahon, returned to the corporate after retiring in July amid an investigation into allegations that he had sexual relationships with staff on the firm and subsequently paid these ladies tens of millions of {dollars} as a part of their severance packages. After his departure, WWE disclosed a number of bills that McMahon hadn’t reported, totaling $19.6 million. That pressured the corporate to revise its monetary statements for 2019, 2020 and 2021.

Utilizing his controlling stake within the firm, McMahon on Jan. 5 put in himself and two former executives again on the WWE board of administrators.

Vince McMahon launched an announcement quickly after Tuesday’s announcement that learn, ““First, I’d like to specific my full assist for Stephanie’s private resolution. I’ll endlessly be grateful that she provided to step in throughout my absence and I’m really happy with the job she did co-leading WWE. Stephanie has at all times been the last word ambassador for our firm, and her a long time of contributions have left an immeasurable affect on our model.

“I’m proud to announce that Nick Khan will function WWE CEO. Nick’s enterprise acumen and mastery of the media business have helped catapult our enterprise to file income and profitability. Collectively, we stay up for working with the Board at this important second in time to overview our strategic alternate options and maximize worth for all WWE shareholders.”