World Wrestling Entertainment elected former leader Vince McMahon because the government chairman of the board on Tuesday, the company said, adding that co-leader executive officer and chairwoman Stephanie McMahon resigned from her function.

Nick Khan will serve as the new WWE CEO, the amusement company added. Vince McMahon, seventy seven, again to the board ultimate week and elected himself and former co-presidents and administrators Michelle Wilson and George Barrios to the board.

McMahon’s daughter Stephanie introduced her resignation in a assertion posted on Twitter. “About 8 months in the past, I took a depart of absence and within some weeks, suddenly had the opportunity of an entire life,” Stephanie announced through Twitter.
“I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I can’t placed into words how proud I am to have led what I consider to be the finest employer inside the world, running alongside a high-quality leadership crew and one of the strongest executives I even have regarded in my Co-CEO, Nick Khan.”

“Our Founder, Vince McMahon, has back as Executive Chair and is leading an exciting process concerning strategic options. And with Nick’s management and Paul ‘Triple H‘ Levesque as Chief Content Officer, I am confident WWE is in the correct area to retain to offer unparalleled creative content material and force most fee for shareholders. WWE is in this kind of strong role, that I even have decided to go back to my depart and take it one step further with my authentic resignation.”

“I look forward to cheering on WWE from the other aspect of the commercial enterprise, wherein I commenced after I became a little kid, as a pure fan,” she said.

Vince, who ran the corporation for 4 a long time, said final week that the simplest way for WWE to fully capitalise at the developing call for for content and stay entertainment changed into for him to return as government chairman. The business enterprise additionally announced on the time that it’d discover strategic options.

McMahon retired in July ultimate year, because the business enterprise’s CEO and chairman, following an research into his alleged misconduct. Later, WWE said that it determined a few unrecorded charges tied to McMahon.