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Stephanie McMahon resigns as WWE co-CEO; Vince McMahon returns as executive chairman

Stephanie McMahon returned from a leave of absence in July to take over as co-CEO after her father retired amid allegations of sexual misconduct. 
WWE Chief Brand Officer Stephanie McMahon attending the WrestleMania 35 Press Conference held at MetLife Stadium in New Jersey, NY, USA, on March 16, 2018. The news conference will officially announce the return of WrestleMania to MetLife Stadium in 2019. The event is expected to draw visitors from around the world to the New Jersey/New York region for a week of activities. Information provided will include the potential local economic impact of WrestleMania Week and the international exposure that will be created in the region. Photo by Dennis Van Tine/Abaca/Sipa USA(Sipa via AP Images)
WWE Chief Brand Officer Stephanie McMahon at MetLife Stadium in New Jersey on March 16, 2018.Dennis Van Tine / Abaca/Sipa USA via AP file
/ Source: CNBC.com

Stephanie McMahon has resigned as WWE co-chief executive officer and chairwoman after her father, Vince, was unanimously re-elected as the company’s executive chairman.

Stephanie McMahon returned from a leave of absence in July to take over as co-CEO after Vince McMahon retired amid allegations of sexual misconduct. 

She informed staff Tuesday that she is again stepping down as Vince McMahon returns to facilitate a potential sale of the company.

“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders,” Stephanie McMahon said in a statement.

Vince McMahon, Stephanie McMahon and Triple H attend the UFC 276 event at T-Mobile Arena on July 02, 2022 in Las Vegas, Nevada.
Vince McMahon, Stephanie McMahon and Triple H at UFC 276 at T-Mobile Arena in Las Vegas on July 2.Jeff Bottari / Zuffa LLC file

Nick Khan, formerly co-CEO alongside the younger McMahon, will serve as the company’s sole CEO. Stephanie McMahon’s husband, Paul “Triple H” Levesque, will continue to run WWE’s creative division.

Stephanie McMahon had announced in May she was taking a leave of absence from her prior role as chief brand officer to focus on her family.

“I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon said in a statement Tuesday. “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.”

Vince McMahon, former CEO and controlling shareholder of the company, rejoined the WWE board of directors last week and said he would help to facilitate a sale of the company.

WWE has been considered a sale target for some time, CNBC previously reported, as the company owns intellectual property that could be valuable to streaming service, merchandising and theme park businesses.

The company has hired JPMorgan to advise on the potential sale, CNBC previously reported.