Will Ragozzino/Getty Images Entertainment In a plot turn worthy of those taking place weekly in his company’s wrestling matches, Vince McMahon has returned to the chairmanship of World Wrestling Entertainment (NYSE:WWE). The board unanimously elected McMahon chairman, the company said, and his daughter Stephanie McMahon resigned her roles as chairwoman and as co-chief executive officer. That means while Vince McMahon leads the board, Nick Khan will serve as sole CEO. “First, I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon said. “I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.” As for Khan, Vince says “Together, we look forward to working with the board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.” WWE stock has been on the move in the past week since Vince McMahon (the company’s majority shareholder) issued a statement saying he was pursuing a strategic review that could lead to a sale. Vince McMahon stepped down from his CEO and chairman roles last June, amid a growing barrage of misconduct allegations, including secret multimillion-dollar settlements.
