200876
201905

Movie Listings

WWE warns Vince McMahon resignation could impact 'creative' quality

Resignation could impact

WWE has warned Vince McMahon's resignation could have a negative impact on the company's "characters and creative storylines".

The wrestling giant is due to hold its second quarter 2022 financial call on Tuesday (16.08.22) - the first since McMahon's retirement amid an investigation into allegations of misconduct - and a statement before the call has discussed the potential impact of the change in leadership.

The company said: "The resignation of Vincent K. McMahon could adversely affect our ability to create popular characters and creative storylines or could otherwise adversely affect our operating results."

As noted by WWE, McMahon - who "resigned from all positions" on July 22 - served as chairman and CEO, as well as leading the creative team in charge of developing "the storylines and the characters for our programming".

Vince was replaced by his daughter Stephanie McMahon as chairwoman and co-CEO alongside Nick Khan, while Stephanie's husband Triple H - real name Paul Levesque - also received new roles as executive vice president of talent relations and creative with "decades of experience" in WWE in similar roles.

The company continued: "Although Mr. Levesque has extensive practical experience with many of our revenue streams and, with Ms. McMahon, has been critically involved in our business transformation over the past several years as well as our continuing brand development, these collective changes at the top of our organization are extensive and recent, and it is therefore possible that the loss of services of Mr. McMahon could have a material adverse effect on our ability to create popular characters and creative storylines or could otherwise adversely affect our operations and/or financial performance."

Meanwhile, the company also confirmed the special committee's investigation into alleged misconduct "is substantially complete".

They added: "Although we believe that no significant business has been lost to date, it is possible that a change in the perceptions of our business partners could occur as a result of the investigation."



More Entertainment News



199701






RECENT STORIES
201753




Castanet Proud Member of RTNDA Canada
201233



202216