Vince McMahon returns to WWE as executive chairman; daughter Stephanie McMahon steps down as co-CEO
Vince McMahon has returned to WWE as executive chairman, while his daughter Stephanie McMahon will step down as co-CEO, she announced Tuesday.
In a statement, Stephanie McMahon said her father has come back to the company, months after he retired as CEO and chairman amid a misconduct probe.
"Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives," she wrote.
She said she took a leave of absence last year and went on to have the "opportunity of a lifetime" to return as a co-CEO and chairwoman of WWE's board. However, McMahon said she will now be leaving the role.
"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," she wrote. "I look forward to cheering on WWE from the other side of business, where I started when I was a little kid, as a pure fan."
"I truly love our company, our employees, our Superstars, and our fans," she added.
Nick Khan is now WWE's sole CEO and Paul Levesque, McMahon's husband, remains the company's chief content officer.
With Vince McMahon returning, speculation fueled on social media that the publicly traded company would turn private and be sold to Saudi Arabia's Private Investment Fund. CBS News reached out to WWE, but did not immediately receive a response back.
McMahon, who turned WWE from a small company into a worldwide entertainment business, stepped back temporarily as CEO and chairman in mid-June and then retired a month later. He was facing an investigation into alleged misconduct at the time of his short-lived retirement.
The Wall Street Journal reported in July McMahon agreed to pay more than $12 million in hush money to four women over the past 16 years to suppress allegations of sexual misconduct and infidelity.
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