Vince McMahon Addresses WWE Stockholders With A Violent Message
As he moves closer to a potential sale of the business, WWE Executive Chairman Vince McMahon keeps creating waves in the industry.
With the Securities and Exchange Commission's approval yesterday, McMahon submitted a written consent amendment to WWE's bylaws that would increase his authority without requiring
The extensive filing formalizes McMahon's new authority to decide WWE matters without consulting or seeking approval from the shareholders.
With this amendment now in force, McMahon will have total authority over any upcoming sales or, in the absence of any, the business' choice regarding a media rights deal.
McMahon resigned from his position as CEO and Executive Chairman of WWE in the wake of allegations of sexual misconduct and the improper use of funds for "hush money" payments.
However, McMahon unexpectedly joined the company's board of directors earlier this month, and he was then named Executive Chairman once more.
McMahon pretended to be investigating the possibility of selling the business; this has been rumoured to be an option for the past few years.
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