- As noted earlier, WWE closed today at $16.77. It was the highest closing price since May 15, 2014, when the stock closed at $19.93. The stock plummeted the following day after WWE announced their new TV deal with NBCUniversal.
- WWE Studios President Michael J. Luisi sold 15,000 shares of his WWE stock yesterday at an average price of $16.71. The total amount of the transaction was $250,650, which reduced Luisi to 92,094 shares.
- Lemelson Capital, LLC, a private investment management firm, have sold nearly their entire WWE stake except for one share. The firm announced a stake in WWE last May and had called on the Board of Directors to replace the management team or sell the company. Lemelson Capital Management CIO Emmanuel Lemelson had stated several times in the past that he wanted WWE to be put up for sale, or for Vince McMahon to be replaced.
I want Stephen Amell to show up on Raw and say to Vince,"You have failed this company and your fans." I would be :mark:ing out,Vince, like a once great athlete past his prime, needs to step aside with whatever dignity he has left.
wwe have approx 75 million shares in circulation and vince alone owns 40 million (not counting the stock he holds that he can turn into a and b class shares and give away to family members like he did to steph 2 years ago)
so the answer to the question is no he cannot be fired.
The law on firing the majority owner by the board of directors is clear, the board does not respond to the majority shareholder view, but to all shareholders as a legal requirement.
Which is why the board can ask for medical competency tests, and well as fire the chief executive in matters when the law has been broken - such as corruption, falsifying company reports or any illegal action which can impune the reputation of the company (like murder, rape, ect) which can lead to financial loss to all shareholders. All they need to do to fire the Chief executive with a motion of no confidence citing those reasons.
I believe it is possible for a CEO to be forced to resign even if they have a majority shareholding if the remaining shareholders lose confidence. I could be wrong.
The McMahon family owns far more than the needed 51% of WWE to stay in power and Vince is Chairman of the Board. The only way he would be replaced is voluntarily or if he were to be declared mentally incompetent by a medical professional.
The McMahon family owns far more than the needed 51% of WWE to stay in power and Vince is Chairman of the Board. The only way he would be replaced is voluntarily or if he were to be declared mentally incompetent by a medical professional.
I doubt he can be fired considering his vote is a large chunk, the largest chunk. Why would the Board of Directors want to fire him anyway? to replace him with Stephanie or someone who is uneducated?
WWE is the classic example of a public company that is run like a family business. The company barely breaks even or provide decent shareholder returns but still remains in business, simply because there is only one guy running the place, and he has to answer to no one.
No, he cannot. They tried to muscle him out a couple years ago and it didn't work. He owns 51%+ shares and on top of that has 82% voting power as Chairman of the Board.
In a publically traded company, owning the most shares does not put you in charge. The CEO is appointed by the Board of Directors, and so is the chairman. If the members of the board felt that WWE was suffering under Vince's leadership, they have the authority to remove him from any and all positions within the company.
All his majority stock allows is for him to have a voting power whenever something is voted on by stockholders, such as a sale or merger.
It's not about owning the most shares. It's about owning more than 50%. And yes he has the last say in EVERY decision being made because of that fact. Which includes firings and hirings. Nobody can force him out.
Vince is Chairman, not a full board member. He has no vote on the board itself. He starts meetings, and oversees them, but the board members can move to fire him without his approval.
Man. I dunno who's right or wrong here, but I'm getting an education about stocks and shareholders. Sounds like a mess there at the headquarters. lol. So essentially, he's still the owner and no one can dethrone him unless he retires or becomes mentally ill?
Anyways, just thinking hypothetically, if he were to some how be fired, for whatever reason and say HHH and Steph or someone else took over, would the product get any better? I am thinking it would if HHH got more control looking at how NXT is doing. Maybe they'd shy away from being PG13 and play into the 18-35 demographic again where the real money is.
Anyways, how does Steph and HHH actually get to run the company? What are the steps?
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