World Wrestling Entertainment has tapped wrestling magnate Vince McMahon’s daughter to serve as co-CEO of the Stamford-based company following McMahon’s retirement last week.
On Monday, WWE announced that Stephanie McMahon and Nick Khan would become co-CEOs. She was also appointed chairwoman of the board; Khan will continue to serve as a board member.
“We are grateful for the opportunity to lead WWE together with our unmatched management team,” McMahon and Khan said in a joint statement. “We recognize this is a tremendous opportunity and responsibility, and we look forward to serving the WWE Universe.”
Vince McMahon is the husband of former U.S. Senate candidate Linda McMahon, who served as administrator of the Small Business Administration under the Trump administration.His retirement follows a Wall Street Journal report on an alleged $3 million settlement that Vince McMahon agreed to pay to a former employee in January. The WSJ said the separation agreement barred the woman from discussing her relationship with Vince McMahon or disparaging him.
Last month, Vince McMahon voluntarily “stepped back” from his position as CEO but retained his responsibilities related to WWE’s creative content. At the time, he said he would cooperate with the ongoing WWE investigation.
Vince McMahon was recently ranked Connecticut’s 13th wealthiest resident.
WWE also announced Monday that executive Paul Levesque will assume all responsibilities related to WWE’s creative, in addition to his regular duties.
