What did Vince McMahon write in his letter to WWE's Board of Directors?

Vince McMahon shockingly announced his retirement from his wrestling promotion last year. However, that didn't last long as he recently returned with major plans to sell WWE.

In July 2022, Vince McMahon retired from WWE at the age of 77 after allegations spread about his sexual misconduct against former employees. Vince's daughter Stephanie McMahon took on the role of Chairwoman and co-CEO, the same as Nick Khan. Paul "Triple H" Levesque became the Head of Creative and Chief Content Officer.

McMahon's return to the Stamford-based promotion has been highly speculated even since he retired. Just recently, a letter Vince sent to the Board of Directors prior to his return emerged.

In the first part of the letter, Vince thanked the current Board of Directors for their efforts in delivering the best entertainment experience to the fans. He later addressed the investigation and how it influenced his retirement. The letter also stated that he plans to sell WWE. Due to McMahon holding the majority voting power, this is something he can pursue:

"Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ("WWE" or the "Company') (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders," - Vince later stated in a press release.

Since the announcement that WWE might possibly be up for sale, WWE stocks have risen and continuously do so.

---

Vince McMahon makes other major decisions to the Board of Directors after plans to sell WWE

Besides planning to sell the Stamford-based promotion, another major change that happened under Vince's return is the removal of three members from the Board of Directors.

In the same SEC filing from the letter, it was revealed that JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler were replaced by Vince, George Barrios, and Michelle Wilson on the Board of Directors. This was later confirmed in a press release:

"The actions, communicated to WWE's Board of Directors today via written consent, include the election to the Board of Mr. McMahon, as well as Michelle Wilson and George Barrios - former WWE Co-Presidents and Board members, and currently the Co-Founders and Co-CEOs of Isos Capital Management - and the requisite removal from the Board of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board," Vince later stated in a press release.

It remains to be seen if other changes will be made now that Vince McMahon has returned to the promotion, or if his plans to sell WWE will continue.