Vince McMahon, the 77-year-old former CEO of WWE and majority owner of the event group, is returning to the company as executive chairman.
His daughter, Stephanie McMahon, has resigned as chairwoman and co-CEO. Nick Khan, formerly co-CEO alongside Stephanie, will now serve as the sole CEO. Reportedly, the elder McMahon wants to pursue a sale of the group, that now generates $1 billion in revenues.
Vince McMahon left the post of WWE’s CEO last year amid allegations of sexual misconduct.
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