Stephanie McMahon resigns as WWE’s co-CEO

Stephanie McMahon has announced her resignation as co-CEO and chairwoman of Stamford-based WWE, five days after her father forced his way back into the company”™s leadership role by using his majority ownership of Class-B stock to elect himself as executive chairman.

The 77-year-old McMahon, who was chairman and CEO of WWE for decades, abruptly resigned in July amid revelations of secret hush money payments to former female employees who accused him of sexual harassment. After his departure, Stephanie McMahon and Nick Khan served as co-CEOs while Stephanie”™s husband Paul Levesque, an ex-wrestler who headlined in WWE as Triple H, took on the chief content officer role. Khan and Levesque are still in their roles.

“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,” said Stephanie McMahon in a statement issued by WWE.

As Stephanie McMahon exited the leadership role, the WWE board of directors unanimously elected Vince McMahon executive chairman of the board ”“ at this point, a rubber stamp action. Vince McMahon praised his daughter but did not explain why she was abruptly leaving.

“I”™d like to express my full support for Stephanie”™s personal decision,” the elder McMahon said in a press statement. “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.”

Stephanie McMahon had appeared on WWE”™s wrestling events during her teens and later graduated to executive positions, rising to chief brand officer before announcing in May 2022 that she was taking an indefinite leave of absence from the company. She returned two months later to become co-CEO after her father retired following reports that he paid up to $14 million in hush money to former female employees who alleged he engaged in sexual harassment.