On January 6, using his power as majority owner, Vince McMahon put himself and former WWE presidents George Barrios and Michelle Wilson back on the company’s Board of Directors, disposing of JoEllen Lyons Dillon, Jeffrey R Speed, and Alan M Wexler in the process.
McMahon had stated that his intention was to facilitate a sale of the company.
He changed bylaws to ensure that no sale or media rights deal could be completed without his approval.
In a new article from Axios.com, then-co-CEO of WWE Stephanie McMahon and Chief Content Officer Paul ‘Triple H’ Levesque opposed a sale of the company.
The article said:
“Sources told Axios that Stephanie McMahon and her husband Paul “Triple H” Levesque, the company’s chief content officer and a retired professional wrestler, had opposed a sale.”
Upon McMahon’s return, two further Board members resigned of their own volition, those being Man Jit Singh – who was the one heading up the Board’s investigation into McMahon – and Ignace Lahoud.
Stephanie McMahon then resigned from her role as co-CEO and Chairwoman and her position on the Board on January 10, as Vince McMahon was elected Executive Chairman.
There has been much speculation that Vince McMahon was looking to sell to a party that would commit to keeping him in charge of the company despite the multiple sexual assault allegations that have surfaced in the past year that led to his initial ‘retirement’ in July.
Stephanie’s departure from the company has been met with a lot of negative reaction from backstage in the company, as she was a well liked figure.
We will provide more updates on the situation as they become available.
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