Vince McMahon has returned to the WWE Board of Directors.
The United States Securities and Exchange Commission confirmed the news on Friday January 6th. The news states that McMahon, George Barrios and Michelle Wilson have been appointed onto the board, with JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler being vacated from the board.
On January 5, 2023, the Reporting Person acted by written consent (the “Written Consent”) to remove JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler without cause as directors of the Issuer and to fill such vacancies by electing the Reporting Person, George Barrios and Michelle Wilson as directors of the Issuer.
The announcement comes after Vince McMahon officially announced his intentions to return to WWE, stating that as the majority shareholder he is the one to lead the negotiations of media rights renewals.
The news of McMahon’s plot was first reported by the Wall Street Journal, who reported that the former CEO was holding the company hostage unless he was reinstated.
He has communicated to the board that unless he has direct involvement as executive chairman from the outset of a strategic review, he won’t support or approve any media-rights deal or sale, the people said.
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