Vince McMahon Officially Reinstates Himself To WWE Board Of Directors

After news first broke yesterday that former WWE CEO Vince McMahon intended to return to the company, the first step of the move has now been made official. An SEC filing, signed by McMahon and dated January 5, 2023, shows that board members JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler have been removed, replaced by George Barrios, Michelle Wilson, and McMahon himself.

Barrios and Wilson were both former Co-Presidents on the WWE board that were forced out of the company in early 2020, starting up their own investment firm about a year later. Considering the circumstances, it seems likely that both will serve as staunch allies to McMahon as he attempts to become chairman of the board once again — something that can only be accomplished by a vote from the board.

Another internal change that the SEC filing makes clear is that any "Material Media Contracting Action" or stock issuance must be approved by stockholders, and McMahon controls over 80% of the voting power in that regard. That means that any media rights deal or company sale must be approved by McMahon. Emails from McMahon to the company board, shared by Brandon Thurston of Wrestlenomics, confirm that McMahon is, in fact, using that power to leverage himself into an executive chairman position, informing the board he will not approve either kind of deal otherwise. The emails from the board allude to possible legal action to prevent this, but it remains to be seen if a lawsuit emerges regarding the matter.

McMahon stepped down last year amid ongoing investigations by the company itself as well as the federal government regarding McMahon's actions while CEO. This includes the improper use of company funds as "hush money" payouts, as well as accusations of sexual misconduct from former employees and contractors.

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