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The daughter of WWE Chairman Vince McMahon has formally resigned from her position following her father's retirement U-turn.
Stephaine McMahon has announced her resignation as the co-CEO of WWE on Wednesday, January 11, 2022.
She made the announcement on her official Twitter page following her father Vince McMahon’s return from retirement.
Announcing her resignation from the company, the 46-year-old stated, ''WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.''
To conclude her statement, Stephaine added, “I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan. I will always remain dedicated to WWE.
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''I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners. Thank you for everything. Then. Now. Forever. Together''.
The news comes less than a week after Vince McMahonreturned as the chairman of the board.
Vince McMahon's return opens door to Stephanie McMahon's exit as WWE co-CEO.
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Vince McMahon’s retirement last year came after allegations of sexual misconduct with former female employees of WWE came to the surface.
The allegations also included non-disclosure agreement payments of up to $19.6 million, which was done using his personal funds without recording the expenses.
Regardless,he continued to retain the majority voting power of WWE, despite his absence from the company.
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Stephaine assumed the co-CEO role of WWE, alongside Nick Khan in July 2022, after the 77-year-old Vince decided to retire amid the hush money settlement controversy.
Prior to that time, Stephaine also served as the chairwoman of WWE until her father’s return last Friday.
However, Nick Khan now remains as the sole CEO of the publicly traded company.
At the same time, Stephaine’s husband and former WWE superstar Paul ‘Triple H’ Levesque will continue to be the creative director of WWE’s weekly shows.
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Triple H took over the role of WWE’s chief content officer after Vince’s exit from the company in July.
In the statement shared on Twitter, Stephanie said, ''Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives.
''And with Nick's leadership and Paul "Triple H" Levesque as Chief Content Officer, am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders''.
''Cheering on WWE from the other side of the business'' - Stephanie McMahon
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In conclusion of the 46-year-old’s statement on Wednesday, Stephanie added, ''I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan.
''I will always remain dedicated to WWE. I truly love our company, our employees, our Superstars, and our fans.
''And I am grateful to all of our partners. Thank you for everything. Then. Now. Forever. Together”.
McMahon entered the World Wrestling Federation (WWF/E) as a model for the WWF's sales and merchandise department, but started her WWF business career as an Account Executive for the WWF offices in New York.
She has also held the WWF Women's Championship once and has gone ahead to occupy a number of executive positions in the company including, being the executive vice president of Creative in 2007, before being promoted to the Chief Brand Officer in 2013.
In June 2022, she was appointed interim Chairwoman and CEO of WWE, before she was now named the company's new Chairwoman and Co-CEO alongside Nick Khan.
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