Stephanie McMahon has resigned from WWE after her father Vince McMahon was elected Executive Chairman of the Board.
Stephanie had been serving as the company's chairwoman and co-CEO alongside Nick Khan, following her father's retirement last July.
In a statement posted to Twitter, Stephanie wrote: "About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime.
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"I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my Co-CEO, Nick Khan.
"Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick's leadership and Paul 'Triple H' Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.
"WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan.
"I will always remain dedicated to WWE. I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners."
Last week, Vince appointed himself to the company's board of directors alongside former co-presidents and directors, Michelle Wilson and George Barrios.
In a statement following Stephanie's resignation, Vince wrote: "First, I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE.
"Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.
"I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders."
Vince's return to WWE has fuelled speculation that he is looking to sell the company. It was reported by CNBC last week that WWE had hired JP Morgan to assist with a potential sale, with Comcast, Fox, Disney, and Endeavor named among potential buyers.
Catch up on Raw, Smackdown, NXT and all the big WWE action via the WWE Network or BT Sport. US viewers can access the WWE Network via Peacock.
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Reporter, Digital Spy
Stephanie is a writer who specialises in pro wrestling, covering everything from AEW and WWE to NJPW.
After graduating with a degree in history from Queen Mary University, London, she went on to study journalism at Birbeck University.
Outside of her journalism work Stephanie is also a YouTube content creator focusing on AEW and interviewing talent from AEW, WWE, and across the indie wrestling scene. She has also worked for Revolution Pro Wrestling as a backstage interviewer and commentator.
