WWE Executive Chairman Vince McMahon has filed an amendment to the company’s bylaws with the Securities and Exchange Commission, granting him more control over decisions without requiring approval from shareholders.
This means McMahon can now make decisions for WWE on his own, without a meeting or vote from shareholders.
This amendment allows McMahon to have full control over a potential sale of the company, or to make decisions on media rights deals if a sale does not occur.
McMahon recently stepped down from his role as CEO and Executive Chairman due to allegations of misconduct, but returned to the Board of Directors and was reinstated as Executive Chairman.
Following this, Stephanie McMahon stepped down as co-CEO, leaving Nick Khan as the sole CEO. Her husband, Paul “Triple H” Levesque, recently held meetings to reassure talent that he remains the head of WWE’s creative direction as Chief Content Officer.