WWE names board members who resigned their positions after reportedly disagreeing with Vince McMahon's return
Former CEO Vince McMahon rejoined the company's Board of Directors on January 9, 2023.
Shortly after, it was reported that McMahon was looking for potential buyers for WWE and wanted to privatize the company. However, Mr. McMahon's return to the Stamford-based promotion has upset various WWE employees.
Following reports and observations from the WWE Corporate website's SEC Filings and other documents section, the company announced that Ignace Lahoud and Man Jit Singh stepped down from the Board of Directors, effective January 6, 2023.
Before his resignation, Mr. Lahoud was a member of the company's Audit Committee (the "Audit Committee"). Besides, Mr. Singh was the lead independent director, Chair of the Company's Compensation & Human Capital Committee (the "Compensation & Human Capital Committee"), and a member of the Company's Governance & Nominating Committee (the "Governance & Nominating Committee").
Vince McMahon really came back to WWE and cut this promo in real life https://t.co/oB5wxH7kiY
While Messrs. Lahoud and Singh supported the Board's decision to investigate strategic alternatives for the firm, they did not support Mr. McMahon's WWE return.
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Stephanie McMahon and Triple H reportedly opposed the sale of the WWE by Vince McMahon
Former co-CEO Stephanie McMahon stunned the professional wrestling world when she resigned and left the company while Vince McMahon forced his way back in.
Stephanie and Triple H reportedly opposed the sale of WWE after Vince McMahon was unanimously elected as Executive Chairman.
According to a new report from PWInsider, Stephanie and WWE's Chief Content Officer opposed the sale of the business. That could be one of the reasons Stephanie McMahon resigned and left WWE, though neither party has stated anything to that effect.
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Currently, Nick Khan is the company's sole CEO. It will be interesting to see if Triple H, the current Chief Content Officer, follows Stephanie McMahon's lead.
Several prospective buyers, including Disney, the Public Investment Fund of Saudi Arabia, and AEW owners Shahid and Tony Khan, have been identified as potential bidders for World Wrestling Entertainment.
What do you think of Vince McMahon's return to the WWE Board of Directors? Sound off in the comments section below.