A new report has cast light on why news came out of WWE seemingly slamming Stephanie McMahon’s performance after she stepped back from her role earlier this year.
On May 19th, Stephanie McMahon made the surprising announcement that she’ll be taking a leave of absence from most of her responsibilities at WWE. The reason she gave for the hiatus at the time was that she wanted to take time to focus on her family.
“As of tomorrow, I am taking a leave of absence from the majority of my responsibilities at WWE. WWE is a lifelong legacy for me and I look forward to returning to the company that I love after taking this time to focus on my family.”
The move caught many by surprise, but the bigger surprise came later when Business Insider reported that a WWE source had informed them she was being moved on because of lower-than-expected growth:
“Family or not family, we’ve got to get the right people in place. We weren’t seeing that growth. When someone is moved out of a company, it’s usually the result of something not working. We took stronger control of that a few months ago.”
Now the Wrestling Observer Newsletter has cast a light on why Stephanie McMahon’s performance was publicly condemned, and it has everything to do with the stock price of WWE:
“One person with extensive knowledge of that aspect of the story said that they believed Stephanie McMahon being buried was a pre-emptive move to preserve the stock price. To the outside world, the idea of Vince McMahon’s daughter and the heir apparent to the top position in the company leaving the company she’s worked for her entire adult life would sound like something is wrong with the company.”
“So they leak out that she underperformed at her job and her father pushed her out so that would explain that there wasn’t anything wrong, she was just not good at her job.”
Following the Observer’s publication, the biggest surprise of all has come as Stephanie McMahon has now been announced as interim WWE Chairwoman and CEO following a string of misconduct allegations that have led to an investigation into her father Vince McMahon, forcing him to step back from the roles.