The reason for two WWE Board members to resign last Friday was due to both disagreeing with the return of Vince McMahon.
Revealed in an SEC filing Wednesday, the reason for both Ignace Lahoud and Man Jit Singh resigning was revealed:
"While Messrs. Lahoud and Singh agreed with the Board’s decision to explore the Company’s strategic alternatives, they did not agree with Mr. McMahon’s return at this time."
Lahoud was a member of the Board's Audit Committee while Singh was the lead independent director, the Compensation & Human Capital Committee chair, and a member of the Governance & Nominating Committee.
McMahon and former WWE executives George Barrios and Michelle Wilson officially re-joined the Board Friday, replacing JoEllen Lyons Dillon, Jeffrey Speed and Alan Wexler "without cause."
According to the filing, they expect to have the Board "comprised of a majority of independent directors" by January 30th per a listing requirement of the New York Stock Exchange rules.
While McMahon officially returned to the Board Friday, he was re-appointed Executive Chairman on Tuesday on the same day Stephanie McMahon resigned as co-CEO.
Those developments came nearly six months after he resigned as both CEO and Executive Chairman amid a scandal that arose in June 2022 caused by a revealed investigation into what turned out to be $20 million in unreported expenses, most of which were tied to hush money allegedly given to women due to sexual misconduct by McMahon himself.
Also of interest from the filing: "In 2022, Shane McMahon was retained as an independent contractor performer by the Company and received an aggregate of approximately $828,000 in connection with such services."
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