Vince McMahon’s departure from WWE was listed as resignation in the latest Form 8-K filing with the SEC, contrasting all previous press releases and media announcements that it was just retirement.
The date listed for his resignation is Friday, July 22, and the resignation from his positions as Chief Executive Officer, Chairman and director of the Company, was effective immediately.
The filing also confirmed the appointment by the WWE Board of Directors of Stephanie McMahon as Chairwoman and co-CEO and Nick Khan as co-CEO as well. These appointments came into effect on the same day.
Wall Street has reacted quite positively to the change of leadership, with WWE stocks up nearly 10% in the morning and up to over $70. The removal of Vince McMahon has also fueled more speculation that the company could be sold down the line, something that it was not going to be possible with Vince at the helm.