Stephanie McMahon Resigns As Chairwoman, Co-CEO Of WWE

STAMFORD, CT — Following Vince McMahon's unanimous appointment to become the executive chairman of WWE's Board of Directors on Tuesday, his daughter, Stephanie McMahon, announced her resignation as co-CEO and chairwoman.

Nick Khan will serve as the sole CEO.

Stephanie McMahon originally took a leave of absence from the company eight months ago, but returned several weeks later as interim co-CEO and chairwoman of the board after Vince McMahon stepped down and retired amid an investigation into allegations of sexual misconduct.

Vince McMahon is now back to participate in upcoming media rights deals negotiations and review "strategic alternatives" for WWE, which could involve a sale of the company.

"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," Vince McMahon said in a news release from WWE Tuesday. "Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand."

Khan called Stephanie McMahon "a terrific executive and an even better person" in a news release.

"She will only continue to succeed," Khan added. "I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.

On Tuesday, Stephanie McMahon tweeted a letter announcing a return to her leave of absence and her resignation.

"I cannot put into words how proud I am to have led what I consider to be the greatest command in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my co-CEO, Nick Khan," Stephanie McMahon said. "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."

Stephanie McMahon went on to say she looks forward to cheering on WWE "from the other side of the business" where she started as a little kid.

"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. Thank you for everything," she added.

Stephanie McMahon, 46, first got involved in the family business by modeling T-shirts in the WWE Shop catalog when she was in middle school.

Over the years, she climbed through the ranks both inside the ring and out. After holding executive positions in creative for several years, she was promoted to chief brand officer in 2013.

Stephanie is married to Levesque, the legendary former WWE wrestler known as Triple H.