Vince McMahon planning to re-join WWE
Entertainment
I’ll be joining two former co-presidents and directors George Barrios and Michelle Wilson, McMahon
(Reuters) - Vince McMahon, the former president of World Wrestling Entertainment, intends to rejoin the WWE, according to a statement released on Thursday.
In trading after the bell shares of the entertainment company increased by roughly 11 percent.
McMahon stated that he anticipates becoming the executive chairman of WWE, participating in the company s media rights negotiations and examining potential strategic alternatives.
McMahon told WWE that he will be joining two former co-presidents and directors George Barrios and Michelle Wilson on the board.
The long-serving CEO said that his reappointment as executive chairman would be the only way for WWE to properly capitalize on the expanding market for content and live entertainment.
As the company s CEO and chairman, McMahon stepped down in July of last year after an inquiry into his alleged misbehavior.
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