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Vince McMahon returns to the WWE Board of Directors

Vince McMahon returns to the WWE Board of Directors

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Vince McMahon’s absence from WWE lasted less than 6 months – the former boss has returned to his organization’s board of directors, according to a new SEC filing.

The move follows reports that McMahon – WWE’s majority shareholder – intended to resume his role as executive chairman to negotiate the organization’s next TV deal … as well as explore a potential sale of the company.

The filing says the return of 77-year-old McMahon will provide maximum long-term value for all shareholders. It also reveals that McMahon has made changes to the organization’s charter to ensure media rights deals or company sales cannot be made without his approval.

With the filing, JoEllen Lyons Dillon, Jeffrey Speed ​​and Alan Wexler were removed from the board… and George Barrios and Michelle Wilson will join McMahon as replacements.

A December 20 letter from Vince to the board — presented as evidence on file — states that his return had the full support of WWE’s management team… including Stephanie McMahon, Nick Khan, Paul Levesque.

WWE released a statement confirming the news.

As we previously reported…McMahon retired from the company in July 2022 following allegations of misconduct. Reports at the time claimed McMahon agreed to pay “hush money” to several women at WWE’s expense. The federal government is currently investigating the allegations.

A December 27 reply email from the board shows that he welcomed Vince’s return to the board to help with the deal negotiations … but referred to a draft written agreement in which McMahon would agree to “all investigation-related.” to repay expenses incurred by the Company” and he would not serve as “an officer, director or employee” of WWE during the federal investigation.

If McMahon didn’t agree to the terms, the company would sue.

McMahon was mad at the board’s reaction … and said unless he was directly involved, he couldn’t support a TV or company sale.

But since he’s the majority shareholder, McMahon has the power to get what he wants…but he says he doesn’t intend to affect the management team’s roles, duties or responsibilities upon his return.

Vince bought the company from his father, Vincent J. McMahon, in 1982… and was the face of the brand for decades.

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