Since Vince McMahon’s return to WWE, there have been some major changes, and as the days go by, rumors are running rampant online as to what the state of the global juggernaut will look like in the not-too-distant future.
Two long-tenured veterans of the Stamford-based company have resigned from their current posts. It was earlier reported that Adam Hopkins, Vice President of Communications, who was part of the company for more than 25 years, had left the promotion.
As per a report by PWInsider, Stefanie Fiondella, Vice President of Communications, also exited the company last week. She was with WWE from 2014-2019 and returned in April 2021.
Perhaps the biggest shocker of them all was former co-CEO Stephanie McMahon’s departure from the Stamford-based promotion.
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
It remains to be further seen how many more dismissals and resignations will take place in the coming months as the company goes through the busiest time of its calendar year.
Vince McMahon doesn’t need anybody else’s approval to sell WWE if he wants
According to new SEC filings, Vince McMahon is no longer required to have any the stockholders approval for major WWE decisions.
Dear God… pic.twitter.com/vDpzkALKRk
— Public Enemies Podcast (@TheEnemiesPE3) January 17, 2023
In a recent SEC filing, it was reported that Vince McMahon holds the sole power to put the company on sale if he wanted to, without the approval of other stockholders.
“In light of the foregoing, on January 16, 2023, Mr. McMahon, in his capacity as controlling stockholder of the Company, executed and delivered a written consent (the “January 16th Consent”) taking certain actions by consent without a meeting in accordance with Section 228 of the DGCL to substantially repeal the January 5th Amendments, as further described below in Item 5.03. (…) No further approval of the stockholders of the Company is required to approve any of the actions taken by Mr. McMahon.”[H/T: SEC Filing]
WWE’s Executive Chairman has been the most important name to catapult the promotion into the status it is in today.
The mainstream popularity and the fact that it still remains the global juggernaut company of all wrestling promotions in the world gives McMahon the right to do what he wants.
— Sportskeeda Wrestling (@SKWrestling_) January 6, 2023
It remains to be seen what the 77-year-old has in mind for the sale of the company, his position, and the overall changes that come with it, be it in the product or internally.