Stephanie McMahon resigns as WWE co-CEO
- Tim Baysinger, author of Axios Pro: Media Deals
Stephanie McMahon has resigned as co-CEO and chairman of the board of WWE, the company announced Tuesday.
Why it matters: McMahon's resignation comes days after her father Vince McMahon announced he was appointing himself back to WWE's board to lead a potential sale process.
- Nick Khan, who had been serving as co-CEO with Stephanie McMahon, was named sole CEO.
Catch up quick: The elder McMahon announced last week that he had elected himself executive chairman and appointed former WWE presidents Michelle Wilson and George Barrios to the board, via a written consent order.
- JoEllen Lyons Dillon, Jeffrey Speed, and Alan Wexler were removed from WWE's board. Two more board directors — Ignace Lahoud and Man Jit Singh — resigned the following morning.
The big picture: Vince McMahon, who retired last year amid a sexual misconduct scandal, is returning to lead WWE through a potential sale process as well as its next round of media rights talks.
Tim Baysinger co-authors the Axios Pro Media deals newsletter. Sign up now.
Editor's note: This story has been corrected to note that the announcement was made Tuesday, not Wednesday. (edited)