WWE press release on Vince McMahon’s return to the Board of Directors
WWE has issued a press release on Vince McMahon returning to the Board of Directors with George Barrios and Michelle Wilson. You can click here for all the news from this morning’s SEC filing that confirmed Vince’s return.
Below is the WWE press release issued just now, which says two Board members have resigned as of today-
WWE Provides Update Regarding Composition of Its Board of Directors and Exploration of Strategic Alternatives
STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.
“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”
As Vince McMahon stated yesterday, “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.”
In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.
Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.
The Board currently consists of:
Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.