In the midst of multiple allegations of sexual misconduct, Vince McMahon resigned from his position as Chief Executive Officer of WWE in July of last year. He is now hoping to make a comeback, but only to sell the company.
After almost four decades at the helm of the company, Vince finally decided to step down as the company’s chief executive officer because he was the subject of an investigation into whether or not he had made improper payments to multiple women with whom he had an affair.
On July 23, 2022, to protect his and the company’s brand image, Vince confirmed his retirement with a tweet, saying, “At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together.” However, he might follow the most common trend in the world of wrestling, which is to come back from retirement after a relatively short period of time.
Vince McMahon plans to return to WWE to pursue the sale of the business after his 2022 retirement amid sexual harassment allegations, per @laurenthomas, @WSJ pic.twitter.com/1boIgRxtfY
— B/R Wrestling (@BRWrestling) January 5, 2023
In a recent statement, Mr. McMahon, the majority owner of World Wrestling Entertainment shared that the company needs him back now more than ever and he is also ready to return to his position in order to make things right.
“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” said Vince.
“The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
The current co-chief executive officers of WWE are Stephanie McMahon, daughter of Vince McMahon, and Nick Khan, who served as president of WWE in the past. Given that Vince owns the majority of the voting shares in the company, it will be interesting to see how their position shifts now that Vince could make a comeback at any time.
