TKO COO Says Vince McMahon is Not Coming Back to the Company – TKO and WWE are making significant efforts to distance themselves from Vince McMahon in light of the recent allegations he is facing regarding his alleged involvement in sex trafficking.
Mark Shapiro, the COO of TKO, addressed McMahon’s status during a talk at the Morgan Stanley Conference today. Shapiro made it clear that McMahon has no current involvement with the company and has no plans to return.
In his statement, Shapiro emphasized, “He doesn’t work for the company. He doesn’t work at the company… and he’s not coming back to the company.” This definitive stance underscores the efforts being made by both TKO and WWE to dissociate themselves from McMahon amid the ongoing legal proceedings and controversy.
Following the allegations and legal proceedings, Vince McMahon has resigned from his duties at TKO. The company, along with former executive John Laurinaitis, has also been named in the lawsuit.
In recent months, McMahon has been liquidating his TKO stock, with his most recent transaction occurring on Monday. He sold 5,350,000 TKO shares, amounting to a value of $412 million. This sale follows a previous stock sale in November, where McMahon sold shares worth $612 million. Despite these transactions, McMahon still retains ownership of approximately 15 million shares, accounting for about 9% of all TKO stock.
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TKO COO Says Vince McMahon is Not Coming Back to the Company
