WWE have formally announced that Vince McMahon has returned to the company.
In a press release confirming the news, the company the company noted that they are also undertaking the “exploration of strategic alternatives.” It had earlier been revealed that McMahon removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board, reinstating himself, Michelle Wilson and George Barrios.
The release also announced that Ignace Lahoud and Man Jit Singh have resigned from the Board with immediate effect. It has been reported that Man Jit Singh was the lead investigator on the internal Vince McMahon investigation.
Board Members Quit Following Vince McMahon Return
WWE’s Board of Directors now consists of the following names:
- Vince McMahon
- Stephanie McMahon
- Nick Khan
- Paul Levesque
- Steve Koonin
- Michelle McKenna
- Steve Pamon
- George Barrios
- Michelle Wilson
You can find the press release from WWE below.
“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.”
Vince McMahon retired from his role as WWE Chairman on July 22nd, 2022 surrounded by numerous allegations of sexual misconduct. This has been followed by further allegations of sexual assault. It is claimed that McMahon paid more than $12 million to the women involved in hush money in an attempt to suppress the allegations.