Stephanie McMahon Resigns After WWE Elects Vince McMahon As Executive Chairman Of The Board

Stephanie McMahon gone from WWE

Following Vince McMahon's unanimous election as Executive Chairman of the Board by the company's Board of Directors, Stephanie McMahon has announced her resignation as Chairwoman and Co-CEO. Nick Khan will serve as WWE CEO moving forward, while Triple H continues in his role as Chief Content Officer. 

In a statement on social media, Stephanie wrote: 

"Dear WWE Universe,

"About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my Co-CEO, Nick Khan.

"Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick's leadership and Paul "Triple H" Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.

"WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.

"I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan. I will always remain dedicated to WWE. I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners.

"Thank you for everything. Then. Now. Forever. Together."

Within a press release, Vince McMahon addressed his daughter's resignation, saying: 

"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. 

"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's resignation comes only days after Vince McMahon returned to WWE by electing himself, Michelle Wilson, and George Barrios to the WWE Board of Directors. WWE have hired JPMorgan to pursue a sale of the company, a sale which will require Vince McMahon's final approval after he changed the company bylaws last week. 

Outside of his position as majority shareholder, Vince McMahon had been out of WWE after he resigned as WWE Chairman and CEO in July 2022 amidst a sexual misconduct and hush money scandal. 

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Aidan Gibbons

Written by Aidan Gibbons

Editor-in-Chief of Cultaholic.com Twitter: @theaidangibbons