WWE says Vince McMahon returning to board, to undertake review of alternatives

WWE is providing an update regarding the composition of its board of directors and the exploration of strategic alternatives. "Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board. We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value," said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. Vince McMahon, in his capacity as controlling shareholder of the company, has removed JoEllen Lyons Dillon, Jeffrey Speed and Alan Wexler from the board. Vince McMahon, George Barrios and Michelle Wilson have been added to the board to fill the resulting vacancies. In connection with the change in the composition of the board of directors and in cooperation with Vince McMahon as majority shareholder, the company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. "There is no assurance that this process will result in a transaction," the company stated.