McMahon retires from WWE CEO role
July 25, 2022
By Nik Roseveare
Vince McMahon has announced that, after four decades in the role, he is retiring as CEO of entertainment juggernaut WWE.
McMahon initially stepped down temporarily last month following reports that emerged in the WSJ that he paid millions to suppress allegations of sexual misconduct and infidelity – but now he has confirmed his retirement. McMahon will, however, WWE’s majority shareholder.
McMahon’s daugther Stephanie has been named co-CEO (along with Nick Khan), whilst her husband Paul ‘HHH’ Levesque was recently named EVP, Talent Relations – a role he has previously held within the company.
“We are grateful for the opportunity to lead WWE together with our unmatched management team,” said Stephanie McMahon and Khan in a joint statement. “We recognise this is a tremendous opportunity and responsibility, and we look forward to serving the WWE Universe.”
In his own statement, Vince McMahon said: “As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.”
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together,” he concluded.
WWE’s content is broadcast in more than 180 countries and 30 languages. Later this year, on September 3rd, the company will hold its first UK stadium show in 30 years when Clash at The Castle takes place at The Principality Stadium in Cardiff, Wales.