Stephanie McMahon, minority owner and Chief Brand Officer of WWE, comments on how the company will run once her father, Vince McMahon, retires.
VINCE MCMAHON HAS BEEN RUNNING WWE SINCE 1982
Vince McMahon worked for the WWE for his father as a commentator and he assumed control of the company in 1982. McMahon saw the commercial potential of monopolizing the industry, which previously operated as separate fiefdoms across the United States. This led to the development of the annual WrestleMania, which has since become the most successful professional wrestling event in history. He faced stiff industry competition from World Championship Wrestling (WCW) in the 1990s, but eventually purchased the company in 2001 after a long power struggle, and also purchased the assets of the defunct Extreme Championship Wrestling (ECW) in 2006.
McMahon also worked as a professional wrestler and personality known by the ring name Mr. McMahon, using a gimmick based on his real-life persona. He was the broadcast color commentator and chief broadcaster until 1997, and is a two-time world champion, a Royal Rumble match winner, and has headlined multiple WWE pay-per-view events.
STEPHANIE INDICATES THAT THE FUTURE OF WWE WILL BE A TEAM EFFORT
Speaking about WWE network, Stephanie McMahon said that her father was always ahead of the curve, and thus they were one of the first companies to create a streaming platform of their own.
Stephanie indicated that when Vince retires, the company will run more as a group effort, instead of now where he takes all work upon his shoulders.
“I do think a lot of the institutional knowledge is important, particularly with regards toward the core content. But it’s also surrounding our business with strong, smart executives. And that’s exactly what we have. So I do think it’s the marriage of institutional knowledge, the incredible production value, the creation of talent IP and storylines and really strong business executives to help us expand. I think it’s a combination of things,” she said.
“I don’t think there will ever be a person to person replacement for Vince McMahon. He does too much. The landscape would look different however it shakes out. But I think it’s a marriage of those things,” Stephanie added.
