Will Stephanie McMahon step down as CEO after Vince McMahon's WWE return?
In shocking news, former CEO of WWE Vince McMahon has returned to the business and many believe he will regain his seat by replacing Stephanie McMahon. The 77-year-old stepped down as CEO of WWE in July 2022 after four decades of running the promotion.
McMahon was in deep waters when he was accused of infidelity and misconduct last year. The investigation is still ongoing and proved to be the reason for his exit. Yet, the wrestling promoter wants to make a return and even plans to renegotiate the deals for WWE's flagship programs - RAW and SmackDown.
After McMahon's departure, Stephanie McMahon took over as Chairwoman and shared the CEO of WWE with former Chief Revenue Officer Nick Khan. Paul 'Triple H' Levesque, Stephanie's husband, was kept in charge of the creative as Chief Content Officer.
Will Stephanie McMahon need to step down as CEO of WWE following Vince McMahon's return? The answer is no for now. Mr. McMahon is currently aiming for the position of Executive Chairman, which wouldn't hinder the workings of CCO Triple H and Chairwoman Stephanie.
In his letters to WWE, McMahon stressed his need to return while mentioning how it would help the shareholders. In his press release, he stated that WWE was going into a "critical juncture" due to the upcoming media rights negotiations. The best way to go forward was to reinstate him in the BoD as Executive Chairman.
"The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives."
The former CEO of WWE continued:-
"My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder."
Mr.McMahon allegedly replaced three members of the Board of Directors with former directors Michelle Wilson and George Barrios.
Co-CEO of WWE Stephanie McMahon hasn't reacted to the rumors surrounding Vince McMahon
The Wall Street Journal initially broke the news of Vince McMahon's return, back in December 2022. Fans' curiosity has peaked since then, but there are no official statements from either Triple H or Stephanie McMahon.
WWE's latest news is on Money in the Bank 2023. The premium live event will return to the 02 Arena in London, UK, after two decades on Saturday, July 1. No matches have been confirmed for now.
How could Vince McMahon influence the WWE product? Logically speaking, he might only involve himself in the shareholding sphere. The creative will still be led by Triple H, while Stephanie will look forward to expanding the wrestling entertainment giant.