New WWE Executive Chairman Vince McMahon has issued a statement on the resignation of his daughter, Stephanie McMahon from the company.
2023 has gotten off to a tumultuous start for WWE with big changes at the top of the company as Vince McMahon forced his way back onto the company’s Board of Directors before he was named as Executive Chairman.
The unanimous vote of WWE’s Board to name him in that role came after Stephanie McMahon – who had replaced her father as WWE Chairwoman and co-CEO in the summer of 2022 – announced she was resigning from those roles and leaving the company.
In a press release, Vince McMahon commented on his daughter’s decision to walk away from WWE, expressing his gratitude to her while also naming Nick Khan as the sole CEO of WWE:
“First, I’d like to express my full support for Stephanie’s personal decision. 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. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.
“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.”
Nick Khan also praised Stephanie McMahon while expressing his own gratitude to the man now back at the head of the table in the WWE boardroom:
“Stephanie McMahon is a terrific executive and an even better person. It has been an honor to serve as Co-CEO with her. She will only continue to succeed.
“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”