WWE Officially Announces Vince McMahon’s Return, Two Board Members Resign

WWE has sent out a press release to confirm today’s news that Vince McMahon has returned to the company’s board of directors.

An interesting note in the release is that after the installation of McMahon, George Barrios and Michelle Wilson, two members of the Board resigned. Ignace Lahoud and Man Jit Singh both resigned from the Board. This follows news that McMahon had previously removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler to make room for himself, Wilson and Barrios.

The current Board of Directors includes McMahon, Wilson, Barrios, Nick Khan, Stephanie McMahon, Paul Levesque, Steve Koonin, Michelle McKenna and Steve Pamon.

The announcement reads:

WWE Provides Update Regarding Composition of Its Board of Directors and Exploration of Strategic Alternatives
01/06/2023

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.

“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities.”

In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.

Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.

The Board currently consists of:

Vince McMahon
Stephanie McMahon
Nick Khan
Paul Levesque
Steve Koonin
Michelle McKenna
Steve Pamon
George Barrios
Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.