Stephanie McMahon resigned as co-CEO of WWE on Tuesday evening, just after a week her father, Vince McMahon, stepped out of retirement and returned to the company.
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
According to sources on Wednesday morning, WWE is now being sold to Saudi Arabia’s Public Investment Fund. The reports surfaced just moments after Stephanie McMahon resigned from the company. According to DAZN pro wrestling writer Steven Muehlhausen, Vince, who is also WWE’s main shareholder, made the decision to take the firm off the public stock market and back into private hands.
Stephanie McMahon announced her departure from WWE on Monday, after working as co-CEO and chairperson for the last six months. The action comes just days after her father, Vince McMahon, rejoined the company as a board member after retiring in July amid claims of sexual harassment and assault, as well as allegations that he paid settlement money to the women involved.
“Vince is coming back”
— Rick E Langston (@radvstheworld) January 11, 2023
In her resignation letter, Stephanie McMahon claimed that her father is “heading an exciting process considering strategic options.” She expressed confidence in the company’s future under Khan and her husband, chief content officer Paul “Triple H” Leveque. “I am confident WWE is in the perfect place to provide unparalleled creative content and drive maximum value for shareholders,” she said.
Fans react to Stephanie McMahon’s Resignation
Stephanie McMahon resigned as co-CEO of WWE, the pro-wrestling empire her father established. McMahon’s departure was announced on Twitter, following the return of Vince McMahon to the corporation. Vince McMahon resigned in July amid sexual misconduct charges but was elected executive chairman of WWE’s board on Tuesday.
POV:Vince becomes Executive Chairman and Stephanie resigns.
*Triple H and the entire WWE locker room…. #WWE #VinceMcMahon #stephaniemcmahon pic.twitter.com/6n0lFcGFHY
— CM Punk never botched he made happy mistakes (@thetribalgeek) January 11, 2023
Vince McMahon came back and Stephanie McMahon stepped down as Co-CEO… We’re not even 2 weeks into 2023! pic.twitter.com/Qf912c7d6V
— Public Enemies Podcast (@TheEnemiesPE3) January 10, 2023
Stephanie McMahon has appeared on WWE TV on and off since the late 1990s, but her most crucial roles in the promotion have been behind the scenes. McMahon has held positions as vice president of creative, chief brand officer, and, following her father’s retirement, co-CEO with Nick Khan.
Fans are furious and took on social media to express their thoughts on the WWE situation.
June 17, 2022- Stephanie McMahon was named Interim CEO
July 22, 2022- Stephanie was named Chairwoman and Co-CEO
Jan 10, 2023- Stephanie resigns as WWE co-CEO and Vince McMahon named Executive Chairman.
This whole story has been playing out fast. pic.twitter.com/4DIT6d4xrD
— Denise ‘Hollywood’ Salcedo (@_denisesalcedo) January 11, 2023
They voted this man unanimously in as Chairman Of Board. Stephanie McMahon fucking quit.
And people have told me all week don’t worry.
Triple H is absolutely next.
The company is fucking finished
— JDfromNY (@JDfromNY206) January 11, 2023
It was very obvious after Vince’s return that he will regain his powers within the WWE, but no one expected it to happen so quickly.
Triple H and Stephanie McMahon did not want Vince McMahon to come back
WWE announced on Friday that former CEO and founder Vince McMahon has returned to the company as a director. WWE has issued a formal statement about the return of Vince McMahon to the Board of Directors. Despite reports that WWE executives did not want Vince to return to the company. Despite claims that Vince was elected unanimously, reports imply otherwise.
Aka I don’t want to work with my dad again
— 👑MEME KING👑 – SMOOOTH (@smooothoperata_) January 11, 2023
According to the Wall Street Journal, Vince plans to sell the company. Now that Saudi Arabia has acquired WWE, it may be stated that it was all part of Vince’s master plan.
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