WWE, Vince McMahon

2023 - 1 - 7

Vince McMahon

Post cover — Image courtesy of "Deadline"

WWE Confirms Vince McMahon Return; Former CEO Removes ... (Deadline)

The former longtime CEO announced yesterday he plans to return as executive chairman to oversee rights deals and a possible sale.

Specifically, the board found that $14.6 million of payments by McMahon weren’t recorded in the company’s accounts but should have been and said the company would restate its financials from 2019 through 2022. He felt his leaving was a mistake and the result of bad advice from people close to him, according to the WSJ. But WWE’s board ultimately found that the payments should have been booked as WWE expenses because they benefited the company and restated years of earnings to reflect that. There is no assurance that this process will result in a transaction,” WWE said in what it called an “Update Regarding Composition of Its Board of Directors and Exploration of Strategic Alternatives” in this odd, unfolding saga. McMahon stepped down as CEO and chairman of the board last July amid a scandal over sexual misconduct and board investigation over payouts to women and a contribution to the now-defunct Donald J. “Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said WWE chair and co-CEO Stephanie McMahon, co-CEO Nick Khan and chief content officer Paul Levesque.

Vince McMahon's Return Boosts WWE Stock. Why Investors See Profit. (Barron's)

The stock jumped double-digits after former CEO Vince McMahon said he plans to return.

WWE ](https://www.barrons.com/market-data/stocks/wwe) Vince McMahon’s Return Boosts WWE Stock.

WWE confirms Vince McMahon is rejoining the board, stock spikes (CNBC)

As controlling shareholder, McMahon has held majority voting power over the organization even after he stepped down in the wake of a sexual misconduct scandal.

Even during his leave, McMahon maintained control over the company as a majority shareholder. The stock trades with a market capitalization of more than $6 billion. McMahon can effectively exercise control over our affairs." He also said he would bring back former co-presidents Michelle Wilson and George Barrios as board directors. Wexler, were removed from their positions. [World Wrestling Entertainment](/quotes/WWE/) confirmed on Friday that former CEO and majority shareholder Vince McMahon will be reinstated to the company's board.

Vince McMahon Returns to WWE (The Wall Street Journal)

Majority owner comes back to pursue a possible sale of the business.

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Vince McMahon Returns to WWE's Board, Seeking a Possible Sale (Bloomberg)

Vince McMahon, World Wrestling Entertainment Inc.'s controlling shareholder and former chief executive officer, is returning to the company's board as the ...

WWE's Vince McMahon is back after misconduct investigation (WJCT NEWS)

WWE said Friday that McMahon, the founder and majority shareholder of WWE, would return as executive chairman. It also announced a board shakeup. Shares surged ...

McMahon controlled a majority of company shares even after his retirement, giving him the power to engineer a board shakeup upon his return. It announced a multi-year expansion of its original programming partnership with A&E in May 2022. The company on Friday did not immediately return requests from The Associated Press seeking details about the findings of that committee. The Royal Rumble takes place this month in Texas, while Wrestlemania, a two-day event, begins in April. "I believe WWE has a unique opportunity during this critical juncture to maximize value for its shareholders and all other stakeholders," McMahon wrote. McMahon retired as WWE's chairman and CEO in July.