Vince McMahon returned to the WWE last month as Executive Chairman of the Board of Directors as WWE seeks a sale. As learned from official communications between McMahon and the board, McMahon first approached the board about a return in late 2022 and was unanimously rejected. He then claimed that he would use the voting rights on the board of directors through his Class B shares to close any potential sale or future media rights deal if his demands were not met, as he believed he had to take the lead in the search for the right company to buy the wrestling promotion.
On Thursday’s quarterly investor conference call, WWE CEO Nick Khan was asked if McMahon would be willing to remove himself from the company following a sale. The caller pointed out that certain companies might be hesitant to make a purchase if McMahon insists on staying in power, but Khan argued that wouldn’t be a problem.
“Yes (he will resign). Without a doubt. He explained it to the board, he explained it to us in management. It’s all about shareholder value. Obviously he’s a shareholder, so it’s not about whatever role he will play, it’s about maximizing that value opportunity.”
This story develops…