Stephanie McMahon resigned as WWE co-CEO and chairwoman after her father, Vince, was re-elected unanimously as the company’s executive chairman.
Stephanie McMahon returned from maternity leave in July to take over as co-CEO after Vince McMahon retired amid sexual misconduct allegations.
She informed employees on Tuesday that she is stepping down once more as Vince McMahon returns to facilitate a possible sale of the company.
“I cannot express how proud I am to have helped lead what I consider to be the greatest company in the world,” Stephanie McMahon said in a statement.
Nick Khan, who was previously co-CEO with the younger McMahon, will become the company’s sole CEO. Paul “Triple H” Levesque, Stephanie McMahon’s husband, will continue to run WWE’s creative division.
Stephanie McMahon announced in May that she was leaving her previous role as chief brand officer to focus on her family.
“I’d like to express my complete support for Stephanie’s personal decision,” Vince McMahon said Tuesday in a statement. “I’ll be eternally grateful to her for stepping in during my absence, and I’m extremely proud of the job she did co-leading WWE. Stephanie has always been the ultimate company ambassador, and her decades of service have had an incalculable impact on our brand.”
Vince McMahon, the company’s former CEO and controlling shareholder, rejoined the board of directors last week and stated that he would assist in the sale of the company.
CNBC previously reported that WWE has been considered a sale target for some time because the company owns intellectual property that could be valuable to streaming service, merchandising, and theme park businesses.
According to CNBC, the company has hired JPMorgan to advise on the potential sale.
