WWE have officially announced the new Board of Directors.
The news comes following the announcement that Vince McMahon is officially back in the company. The announcement sees Vince McMahon placed at the top of the list of directors, along with the official appointment of George Barrios and Michelle Wilson.
Barrios and Wilson, along with McMahon, have officially replaced previous directors JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler. It should also be noted that Ignace Lahoud and Man Jit Singh have voluntary left their positions as directors of the company.
The full press release from WWE Corporate is as follows:
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.
It has been reported that McMahon’s reappointment to WWE is to help renegotiate media rights deals, as both Raw and SmackDown TV network deals are soon due to expire. It is also being reported that a sale of WWE may also be taking place in the future.
Featured image: WWE