In a dramatic turn of events, Vince McMahon, the renowned businessman and CEO of WWE, returned to the company as its Executive Chairman. Many speculated that his comeback was part of a plan to regain control of the organization and prepare it for a sale. As it turned out, those speculations were not far off as the company was indeed sold to Endeavor, the parent company of UFC, just a few months later.
As part of the merger deal, McMahon signed a new contract that reportedly includes a “Conflict of Interest and Code of Conduct.” According to the available SEC filings, McMahon has committed to adhering to this code and the company’s “Equal Opportunity and Non-Harassment Policy.”
While McMahon will retain his position as Executive Chairman of the Board for WWE and the new company resulting from the merger, he will no longer have any voting power. This move is seen as a way to ensure that the company’s decisions are made by a more diverse group of executives rather than being dominated by McMahon’s influence.
The “Code of Conduct” and “Equal Opportunity and Non-Harassment Policy” come as a response to the hush money scandal that rocked the pro wrestling world last year. The policies are meant to protect employees and ensure a safe and equitable workplace for all.
It remains to be seen how involved McMahon will be in the company moving forward. Fans are understandably worried that McMahon’s influence may lead to the decline of WWE’s quality, but the policies put in place may help alleviate some of those concerns. McMahon will need to strictly adhere to the policies, or face serious ramifications if he violates them.