Vince McMahon Returns To WWE’s Board Of Directors

Vince McMahon
Returns To WWE
… On Board Of Directors

1/6/2023 7:29 AM PT

Vince McMahon, WWE

Vince McMahon‘s time away from WWE lasted less than 6 months — the former boss has returned to his organization’s Board of Directors, according to a new SEC filing.

The move comes on the heels of reports McMahon — the majority shareholder of WWE — intended to resume his role as executive chairman to help negotiate the organization’s next TV deal … as well as explore a potential sale of the company.

The filing states 77 year old McMahon’s return will provide maximum long-term value for all of the stockholders. It also reveals McMahon made changes to the organization’s bylaws to ensure any media rights deals or company sales cannot be made without his consent.

With the filing, JoEllen Lyons Dillon, Jeffrey Speed and Alan Wexler have been removed from the board … and George Barrios and Michelle Wilson will join McMahon as their replacements.

A December 20 letter from Vince to the Board of Directors — presented as an exhibit in the filing — states his return had full support of WWE’s management team … including Stephanie McMahon, Nick Khan, Paul Levesque.

WWE released a statement confirming the news.

As we previously reported … McMahon retired from the company in July 2022 following allegations of misconduct. Reports claimed at the time McMahon agreed to pay “hush money” to several women on WWE’s dime. The allegations are currently under federal investigation.

A response email from the board on December 27 shows that it welcomed Vince’s return to the board to help with deal negotiations … but referenced a draft letter agreement in which McMahon would agree to repay “all of the investigation-related expenses incurred by the company,” and he would not serve as an “officer, director or employee” of WWE during the government investigation.

If McMahon did not agree to the conditions, the company would sue.

McMahon was pissed with the board’s response … saying if he didn’t have direct involvement, he could not support any TV or company sale.

But since he’s the majority shareholder, McMahon has the power to get what he wants … but he says he does not intend to impact the roles, duties or responsibilities of the management team upon his return.

Vince bought the company from his father, Vincent J. McMahon in 1982 … and was the face of the brand for decades.