Stephanie McMahon announced her resignation on Tuesday after her father, Vince McMahon, returned to the company as executive chairman last week.
to perform a “strategic review” of the company and potentially explore a sale with WWE’s media right’s deals up in 2024.
Stephanie McMahon announced her resignation from WWE after her father Vince McMahon returned as Executive Chairman.Since that news, WWE’s stock is up about 25 percent, from $72 a share to $90. The total value of the company is at $6.7 billion, as of market close on Tuesday.“Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives,” Stephanie McMahon continued in her note.
“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.”“First, I’d like to express my full support for Stephanie’s personal decision,” he said in a statement. “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.
“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.”
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