, McMahon — who maintains majority voting power in the company due to his stock holdings — expects to assume the role of executive chairman of the board, after promoting himself and two former associates, Michelle Wilson and George Barrios, to WWE’s board of directors.
The initial report on the move mentioned that the board was hesitant to see McMahon return and even pushed back on the idea, which required three other board members to step down to facilitate the moves. Despite the initial pushback, however, the move was made, with McMahon referring to the move as “the only way” for WWE to capitalize on negotiations over media rights.
“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,” said McMahon.
Last year, McMahon came under fire over various reports alleging the former chairman of having paid upwards of $12 million in hush money to various women to cover up claims of sexual misconduct and infidelity. An
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