WWE says former CEO and majority shareholder Vince McMahon will be reinstated to the company’s board.
World Wrestling Entertainment Inc. Chairman Vince McMahon appears in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center Aug. 24, 2009 in Las Vegas.Rebecca Picciotto, CNBC.com
World Wrestling Entertainment confirmed on Friday that former CEO and majority shareholder Vince McMahon will be reinstated to the company’s board.“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” WWE executives said in a Friday press release. The Board’s confirmation follows McMahon’s own announcement on Thursday that he intended to reinstate himself as executive chairman and launch an effort to sell the company. He also said he would bring back former co-presidents Michelle Wilson and George Barrios as board directors.
Three current board members, JoEllen Lyons Dillon, Jeffrey Speed and Alan M. Wexler, were removed from their positions. Two additional directors, Ignace Lahoud and Man Jit Singh, resigned from the board, effective Friday.
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