WWE Ex-CEO McMahon Returns to Board, Seeking a Possible Sale

Vince McMahon, World Wrestling Entertainment Inc.’s controlling shareholder and former chief executive officer, is returning to the company’s board as the company begins exploring strategic options.

McMahon, who retired last year amid allegations of sexual misconduct, won’t be involved in day-to-day operations, according to a statement Friday. The former CEO said on Thursday that the business should review its strategy, including considering a possible sale, to “capitalize on a unique opportunity to maximize long-term value for all WWE shareholders.”

Shares of Stamford, Connecticut-based WWE jumped as much as 17% to $84.25, valuing the company at $6.27 billion, before ...