Vince McMahon to rejoin WWE’s board

Vince McMahon is set to re-join the board of World Wrestling Entertainment (WWE). The 77-year-old McMahon had retired over the summer following allegations of sexual misconduct. In his absence, his daughter, Stephanie McMahon, and Nick Khan, a longtime agent at Creative Artists Agency, assumed the roles of co-CEO."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 in a statement released on Friday."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."

The comeback man McMahon retains the majority of the voting power."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," McMahon, as quoted by ESPN, said on ThursdayHe added: "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."