A recent 10-K SEC filing by The WWE includes an article about what the company would do if WWE Chairman & CEO Vince McMahon would unexpectedly retire, suffer a disability or death, or other unexpected termination for any reason.
The filing reads like this:
“In addition to serving as Chairman of our Board of Directors and Chief Executive Officer, Mr. McMahon leads the creative team that develops the storylines and the characters for our programming (including our television, WWE Network and other programming) and live events. From time to time, Mr. McMahon has also been an important member of our cast of performers. The loss of Mr. McMahon due to unexpected retirement, disability, death or other unexpected termination for any reason could have a material adverse effect on our ability to create popular characters and creative storylines or could otherwise adversely affect our operating results. Mr. McMahon has established Alpha Entertainment LLC, to explore investment opportunities across the sports entertainment landscapes, and Alpha Entertainment LLC plans to launch a professional football league in early 2020 . While he has provided the Company assurances that his focus on WWE will not be diverted by these efforts, any such diversion or perception of such diversion could adversely affect our operating results and could have a material adverse effect on our stock price.”
Vince has assured the company that he will remain focused on his WWE duties after his XFL Football League re-launches in February 2020 as is stated in the filing. WWE acknowledges that Vince’s focus shifting from WWE to XFL could have a negative impact on the stock price and their operating results.
