More details have reportedly emerged on the real reason for WWE appearing to bury Stephanie McMahon during her leave of absence.
WWE has now shared a statement announcing that Stephanie McMahon has been named the interim CEO and Chairwoman of WWE, with Vince McMahon voluntarily stepping down.
Following Stephanie previously announcing a leave of absence from her Chief Brand Officer duties, several reports and articles have indicated that WWE was potentially attempting to bury her. This was before the Vince McMahon allegations became public.
Per Dave Meltzer in the latest edition of the Wrestling Observer Newsletter, a person with ‘extensive knowledge’ believes that WWE’s treatment of Stephanie’s leave of absence has been a business decision, with stock price in mind.
Meltzer wrote:
“One person with extensive knowledge of that aspect of the story said that they believed Stephanie McMahon being buried was a pre-emptive move to preserve the stock price. To the outside world, the idea of Vince McMahon’s daughter and the her apparent to the top position in the company leaving the company she’s worked for her entire adult life would sound like something is wrong with the company. So they leak out that she underperformed at her job and her father pushed her out so that would explain that there wasn’t anything wrong, she was just not good at her job.”
Since Stephanie’s leave of absence announcement, WWE has hired several names who appear to be taking some of Stephanie’s previous responsibilities, including new Executive Vice President and Head of Marketing Catherine Newman.
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