- After 20 years in the position
- Stephanie McMahon taking over temporarily
- Vince McMahon kept it short and said 39 words
(exechange) — Stamford, Connecticut, June 17, 2022 — Vince McMahon, chief executive of WWE, takes a leave of absence. As announced by World Wrestling Entertainment Inc. in a news release on Friday, June 17, 2022, Vincent K. (Vince) McMahon leaves his post as chief executive officer at the company that produces professional wrestling shows, after 20 years in the role, effective immediately.
Vince McMahon’s duties as CEO will be taken over temporarily by Stephanie McMahon, most recently Chief Brand Officer at World Wrestling Entertainment Inc., as interim Chief Executive Officer.
It is a generational change. Stephanie McMahon is about 31 years younger than Vince McMahon.
Stephanie McMahon is the daughter of Vincent McMahon.
Stephanie McMahon comes back to the company after last month announcing a leave of absence as WWE’s chief brand officer to “focus on my family.”
“Investigation into alleged misconduct”
WWE said: “WWE (NYSE: WWE) and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation. McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway.”
Share price increase since June 2017
The announcement follows an increase in World Wrestling Entertainment Inc.’s share price of 210% since June 2017.
In the position of CEO since 2002
Vince McMahon became CEO of the Company in 2002.
Vincent K. McMahon, co-founder of the Company, has served as Chairman of the Board of Directors and Chief Executive Officer and Chair of the Executive Committee.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Vince McMahon’s move on a scale of 0 to 10.
exechange reached out to WWE and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 25.2022 ($).