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Former wrestler and current WWE chief content officer Paul 'Triple H' Levesque will no longer serve on the company's board of directors after its merger with Endeavor, according to an SEC filing announcement on Thursday (August 10).
Levesque, the son-in-law of executive chairman Vince McMahon and the current head of creative, had previously served on WWE's board of directors since 2015. The directors of the newly merged NewPubCo include the following per SEC.gov:
- Vincent K. McMahon (WWE)
- Ariel Emanuel (Endeavor)
- Egon P. Durban (Endeavor)
- Nick Khan (WWE)
- Steven R. Koonin (WWE)
- Jonathan A. Kraft (Endeavor)
- Sonya E. Medina (Endeavor)
- Mark Shapiro (Endeavor)
- Nancy R. Tellem (WWE)
- Carrie Wheeler (Endeavor)
Endeavor Group Holdings, Inc. officially announced its purchase of World Wrestling Entertainment as part of its plan to merge the professional wrestling company with Ultimate Fighting Championship as a new, merged publicly listed company in a news release on April 3.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
The deal is reported to be valued at $9.3 billion, according to Reuters.
Endeavor will hold 51% of the new combat sports and entertainment company, while WWE shareholders will hold for 49%. The report comes hours after the conclusion WrestleMania 39, WWE's biggest annual event.
In January, WWE was reported to have hired JPMorgan to help advise a possible sale, CNBC reported at the time. The move came within of McMahon officially returning and electing himself to WWE's board of directors on Friday (January 6).
McMahon still had majority voting power through his ownership of the company's Class-B stock, which allowed him to add himself, as well as former co-presidents and directors, Michelle Wilson and George Barrios, to WWE's board, a move required three former directors to vacate their positions.
WWE's board of directors had previously rejected a move to reinstate McMahon since his retirement last year.
McMahon announced his retirement amid a sexual-harassment scandal in an official statement shared by the company, confirming his daughter, then-acting chairwoman and CEO Stephanie McMahon, and WWE President Nick Khan, would take over as co-CEOs amid his departure.
Levesque took over WWE creative amid McMahon's departure and retained the role after his return.