Stephanie McMahon Announced Her Resignation From WWEJanuary 11, 2023
Days after her father returned to the WWE, Stephanie McMahon has given her resignation, she announced on Tuesday on Twitter.
In July, McMahon and Nick Khan stepped into co-CEO positions following the ousting of Vince McMahon amidst allegations of misconduct, millions of dollars in reported settlements, and investigations into other nondisclosure agreements. Stephanie also assumed the role of Chairwoman. The latest move removes Stephanie from the business side of the company altogether, acknowledging Vince McMahon as the Executive Chair who is “leading the exciting process regarding strategic alternatives.”
As part of Stephanie McMahon’s statement, she also pointed to Nick Khan’s “leadership” and that Paul Levesque will remain Chief Content Officer.
Vince McMahon has started the process of selling WWE with his official return to the company last Friday, where he elected himself to WWE’s board of directors, along with former co-presidents and directors Michelle Wilson and George Barrios. The move came one day after it was reported from the Wall Street Journal that “unless (McMahon) has direct involvement as executive chairman from the outset of a strategic review, he won’t support or approve any media-rights deal or sale.” The move essentially holds WWE from negotiating television deals for its flagship programs, Raw or Smackdown, as well as his apparent goal of selling the company unless he is directly involved.
According to PWInsider, Vince McMahon’s return could spark a lawsuit from the board. But that possibility of that apparently wasn’t enough to keep Stephanie McMahon around.