World Wide Entertainment (WWE) co-CEO Stephanie McMahon has announced her departure, making Nick Khan the company’s sole CEO.
A few weeks after her father Vince McMahon also announced his retirement and return to the position of board chairman, Stephanie McMahon made her news on Tuesday night.
Up until her father rejoined the board, Stephanie presided over the WWE. Together with Nick Khan, who took over as sole CEO after her resignation, she shared co-CEO responsibilities. Paul Triple H, a member of the WWE Hall of Fame, is Stephanie’s husband and is currently in charge of the weekly TV storylines for the company. He ascended to this role after Vince McMahon stepped down as creative director in 1982.
Stephanie McMahon said in a statement sent to her 3.2 million followers on Twitter that “under Nick’s leadership and Paul ‘Triple H’ Levesque as a chief content officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.
“WWE is in such a strong position that I’ve chosen to go back on vacation and take things a step further by resigning in writing. I’m looking forward to supporting WWE from the fan’s perspective, which is where I started when I was a young person.
Vince, Stephanie’s father, retired after being accused of engaging in sexual misconduct that included receiving compensation under non-disclosure agreements. McMahon paid the NDAs out of his personal finances, but he did not keep track of the $19.6 million in costs.