Executive reshuffle for WWE

Vince McMahon

Mixed martial arts outfit WWE has named Vince McMahon as executive chairman following the resignation of Stephanie McMahon as chairwoman and Co-CEO.

Nick Khan will serve as WWE’s sole CEO.

Stephanie McMahon, Vince McMahon’s daughter and, like her father, an ex-professional wrestler, was named interim chairwoman and co-CEO in July last year alongside Kahn following her father’s retirement amid a board investigation over alleged payments to ex-employees.

“First, I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand,” said Vince McMahon.

“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”

Stephanie McMahon said: “I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders.”

Khan said “Stephanie McMahon is a terrific executive and an even better person. It has been an honour to serve as Co-CEO with her. She will only continue to succeed. I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”