There's an old adage that says, "Never mix business with family." It's an impression as old as time and a notion that the illustrious McMahon family has seemingly debunked for several decades. In 1953, Jess McMahon founded a professional wrestling promotion that would become known as the World Wrestling Federation (WWF). With iconic in-ring performers like Andre the Giant, Superstar Billy Graham, and Peter Maivia, the WWF would soar to new heights after Jess sold the company to his son, Vince McMahon, for $500,000 in 1982. In the sequential decades, the promotion outlasted rival wrestling organizations such as the WCW and ECW, largely due to the success of the famed "Attitude Era." A period of time that saw wrestlers like Stone Cold Steve Austin, The Rock, DX, Kurt Angle, Edge, Christian, Kane, and Mankind enter the prime of their careers at the same exact time. Thus, Vince properly renamed his stable the World Wrestling Entertainment (WWE); although a lawsuit from the World Wildlife Federation played a role in the rebrand as well.

During the "Attitude Era," WWE fans were introduced to Vince's adult children, Shane, and Stephanie McMahon. The two played significant on-camera roles as talent while also rising up the ranks on the business side of things. Although Vince was the company's CEO, a significant portion of the company was owned by his wife, Linda, and their two adult children. Originally, Shane was intended to be Vince's heir, but he has left the WWE on multiple occasions due to various fallouts with his dad. Therefore, Stephanie and her husband, Triple H (the company's Chief Content Officer), assumed larger roles within the WWE. Stephanie became the company's new co-CEO (along with Nick Khan) amid a lawsuit from a group of former employees aimed at her father, who stepped down from his position in July. The 77-year-old reportedly paid his former employees over $12 million to keep their alleged sexual exploits a secret.

In a wild real-life plot twist that not even Triple H and his team of writers could come up with, Vince McMahon recently announced his return to the WWE's front office. According to reports, he did so by leveraging his position as the company's primary stockholder to help secure the votes he needed amongst board members. Now, his daughter, Stephanie, has suddenly announced her resignation. In a statement on Twitter, the 46-year-old wrote the following.

"About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime," Stephanie wrote. "I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I have decided to return to my leave and take it one step further with my official resignation."

In response, her father released the following statement.

"I’d like to express my full support for Stephanie’s personal decision," Vince McMahon said. "I’ll forever be grateful that she offered to step in during my absence, and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand."

Stephanie's shocking announcement ends a stint with the company as a businesswoman and/or on-air talent that has lasted the better part of three decades. Nick Kahn will now preside over the company as the CEO. While Vince McMahon's son-in-law, Triple H, will retain his high-ranking position as well. Upon his return to the WWE, Vince stated his desire to help facilitate the sale of the WWE.

Scroll up to view Stephanie's official resignation letter from the WWE.

 

Source: MSN