Business Insider has an article up by Claire Atkinson about the huge changes that have been taking place in WWE.
According to the story, Stephanie McMahon’s leave of absence was requested by her father, Vince McMahon. “Executed by her father, Vince McMahon, the organization’s 76-year-old CEO,” the exact quote reads. Dave Meltzer of the Wrestling Observer reports that this is not the case.
Stephanie was in charge of marketing, creative services, and community outreach. Stephanie’s responsibilities were transferred to Catherine Newman, whose responsibilities include Marketing, Brand, Community Relations, Entertainment Relations, Creative Services, and other things that Stephanie was handling.
According to the Business Insider article, WWE had hoped for “hundreds of millions of dollars” in sponsorship and marketing growth under Stephanie McMahon, but that didn’t materialize.
The Business Insider report included a quote from a company source. The source stated, “We weren’t seeing that growth,” the source said. “When someone is moved out of a company, it’s usually the result of something not working. We took stronger control of that a few months ago.”
Despite the Business Insider article, Meltzer reports that Stephanie indeed took a leave of absence on her own.
Vince McMahon said the following three months ago during the Pat McAffe podcast, “You have to be objective, you know, and look at family members or whoever it is just as you would other employees. And quite frankly, I’ve probably expected more, you know out of my family members, which is probably not the right thing to say. But nonetheless, it’s like, you have to do the right thing for the business. So if this person is not working out, then they shouldn’t be a part of the company.”
Stay tuned to PWMania.com for more.
