WWE Removes 3 Board Members For Vince McMahon’s Return

Vince McMahon is back in the WWE, whether fans like it or not. Upon Vince’s return, three WWE board members were removed to make way for that big change.

WWE submitted a thorough legal document to the SEC. It explains his strategy for regaining control of the WWE Board. The filing also mentioned the removal of JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler as directors without cause.

Vince McMahon has reentered WWE, thanks to using the company’s impending media rights deals as leverage to regain power. After all, he was always majority shareholder, so he can do whatever he likes with his company.

Along with Vince McMahon, George Barrios, and Michelle Wilson have filled the open positions on the Board of Directors. Mr. McMahon already stated his intention to return to WWE, and it has now become a reality.

Vince McMahon announced his retirement over the summer as a result of sexual misconduct claims. Payments under nondisclosure agreements were included. McMahon paid the NDAs out of his personal finances, but he did not keep track of the $19.6 million in costs.

After McMahon resigned, Nick Khan and his daughter Stephanie McMahon took over as co-CEOs. However, Vince remained the majority owner of the corporation. WWE stock soared more than 10% in extended trading Thursday as a result of the news.

Vince McMahon is back to dictate the direction the company is going to go. He did so even if it meant taking out the current board members. WWE fans have a lot to speculate about and expect as this story rages on.

What are your thoughts on the story? Let us know in the comments.