Vince McMahon Officially Back On WWE Board Of Directors

UPDATE – WWE has now issued an official statement featuring comments from Stephanie McMahon, Nick Khan and Paul Levesque (Triple H), as well as the news that two members of the Board of Directors have resigned – read more at this link.

Vince McMahon is officially back on the WWE Board of Directors.

A new filing via the United States Securities and Exchange Commission announced:

On January 5, 2023, the Reporting Person acted by written consent (the “Written Consent”) to remove JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler without cause as directors of the Issuer and to fill such vacancies by electing the Reporting Person, George Barrios and Michelle Wilson as directors of the Issuer.

The “Reporting Person” is Vince McMahon and the “Issuer” is WWE.

On January 5, an article was published by the Wall Street Journal, and a statement was soon issued by Vince McMahon himself, indicating that he intended to return to WWE to pursue a sale of the company.

The filing confirms Vince McMahon making changes to WWE’s bylaws to ensure that any media rights deals and any company sale can’t be completed without his approval.

The filing also includes Vince McMahon’s letters to the WWE Board of Directors on December 20 and December 31. The letters can be found at this link.

You can read the full filing at this link.

The WSJ reported last month that McMahon intended on returning as he thought he was given bad advice by people close to him who told him it was best for him to leave, and his opinion was that if he’d have stayed, the situation that led to his departure in July would have blown over.

That situation was the surfacing of multiple allegations of sexual assault and misconduct from women, including many who he had allegedly paid millions of dollars to sign Non-Disclosure Agreements.

There was also a further issue with that within WWE as an investigation found those payments should have been filed as company money rather than McMahon’s personal money.

In McMahon’s January 5 statement, he wrote:

I look forward to working closely again with Michelle and George – as well as the Company’s remaining directors and management team, who have my full support and confidence. 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

All further news and updates on the situation and Vince McMahon can be found at this link.

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