>Vince McMahon, the majority owner and former chief executive of World Wrestling Entertainment Inc., plans to return to the company following his retirement last year amid a sexual-harassment scandal to pursue a sale of the business, according to people familiar with the matter.
>Mr. McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, has told the company that he is electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios, to the board, the people said. The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.
>Mr. McMahon, whose abrupt departure in July 2022 followed disclosures by The Wall Street Journal of multiple payouts to women who had alleged sexual misconduct and infidelity, expects he will be able to assume the role of executive chairman, though he would need board approval for that, the people said.
>It isn’t clear where that would leave his daughter, Stephanie McMahon. After his departure, she took over as chairwoman and co-CEO alongside Nick Khan, the company’s former president.
>The 77-year-old sent a letter to WWE’s board in late December detailing his desire to return to the company he ran for four decades, to help spearhead a strategic-review process, the people said. Mr. McMahon believes there is a narrow window to kick off a sales process because WWE’s media rights—including for its flagship programs “Raw” and “SmackDown”—are about to be renegotiated, according to the people.
