Vince McMahon retired in July (Picture: Ethan Miller/Getty Images)
Vince McMahon has confirmed he is taking action to return to WWE months after retiring amid an investigation into misconduct allegations.
The 77-year-old businessman, who is the majority owner and former chief executive of the wrestling giant, still has majority voting power and has submitted written consent electing himself to the board alongside former co-presidents and directors Michelle Wilson and George Barrios.
He said in a statement: ‘WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms.
‘The only way for WWE to fully capitalise on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives.
‘My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.’
In a press release, it’s said McMahon said he wanted to work ‘collaboratively with the Board and management team’.
He is looking forward to working with Wilson and Barrios, who he hailed as ‘highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives’.
He continued: ‘I look forward to working closely again with Michelle and George – as well as the Company’s remaining directors and management team, who have my full support and confidence.
‘WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities.’
It’s said Mr. McMahon is planning to return to the board (Picture: WWE)
McMahon stepped down from his roles as CEO and chairman in July after the Wall Street Journal reported he had allegedly paid millions of dollars in hush money to multiple women following alleged affairs and sexual misconduct.
His statement comes after the Wall Street Journal reported that in late December he informed the board of his desire to return to the company to help lead a ‘strategic-review process’.
It’s reported that the board responded last month to tell McMahon that it was open to work with him on a review process.
However, the board is said to have told him it unanimously agreed that his return wouldn’t be in the best interest of shareholders.
Sources familiar with the letters told the outlet that McMahon told the board that he wouldn’t support or approve ‘any media rights deal or sale’ unless he had direct involvement as executive chairman.
Speaking after his retirement over summer, McMahon said: ‘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.’
As well as Stephanie and Nick’s new roles, WWE later promoted Triple H – whose real name is Paul Levesque – to Chief Content Officer, while he also took over the company’s full creative direction.
Metro.co.uk has contacted Vince McMahon’s attorney Jerry McDevitt and a WWE representative for comment.
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