Vince McMahon returns to WWE, less than 6 months after he retired amid misconduct allegations
Vince #Vince
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WWE announced on Friday that Vince McMahon, its former longtime CEO and chairman, returned to the company’s board of directors.
It comes less than six months after McMahon announced he was retiring from the company in July 2022, amid a board investigation into hush payments McMahon allegedly made to former female employees who had made misconduct allegations against him.
McMahon remained the company’s controlling shareholder even as he transitioned out of the company.
His return means JoEllen Lyons Dillon, Jeffrey Speed and Alan Wexler were removed from the board to make room for McMahon as well as George Barrios and Michelle Wilson, who also joined.
WWE also said it would “undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders.”
In other words, it’s exploring a sale.
The Wall Street Journal first reported last month that McMahon wanted to return to the company, and that he thought the allegations against him would have blown over.
McMahon sees now as the right time to explore a sale, according to WSJ, ahead of rights renegotiations for shows like “Raw” and “SmackDown.”
Story developing…