2 WWE Board Members Quit, Triple H, Stephanie McMahon & Nick Khan Comment On Vince McMahon Return

4 weeks ago by Liam Winnard

2 WWE Board Members Quit, Triple H, Stephanie McMahon & Nick Khan Comment On Vince McMahon Return WWE

WWE has issued the following statement:

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.

The Board currently consists of:

    • Vince McMahon
    • Stephanie McMahon
    • Nick Khan
    • Paul Levesque
    • Steve Koonin
    • Michelle McKenna
    • Steve Pamon
    • George Barrios
    • Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.

Vince McMahon has stated his intention upon returning to the WWE Board of Directors is to facilitate a sale of the company.

He has changed bylaws to ensure that any media rights deals and any company sale can’t be completed without his approval.

You can read the letters that were exchanged between McMahon and the Board in December prior to his return at this link.

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

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