Former World Wrestling Entertainment chief executive Vince McMahon is returning to the company as a board member, after a six-month hiatus following a hush money and sexual harassment scandal.
WWE on Friday confirmed McMahon’s return, also announcing in a press release that it “intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders,” suggesting that the company could be exploring a sale. Shares closed 17% higher after the announcement. “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities,” McMahon said in the release.
Although many of the payments are related to the company’s investigation of his alleged sexual misconduct with former employees, McMahon reportedly made undisclosed payments to of $5 million to former President Donald Trump’s charity, the Donald J. Trump Foundation, in 2007 and 2009, according to the Wall Street Journal.
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