According to a statement made on Thursday, Vince McMahon, the former president of World Wrestling Entertainment, wishes to rejoin the company.

After-hours trading for the entertainment firm surged by almost 11%. McMahon claimed that he plans to become WWE’s executive chairman, participate in the company’s media rights talks, and investigate potential strategic alternatives.

McMahon informed WWE that he will be joining two previous co-presidents and directors on the board, George Barrios and Michelle Wilson. According to the long-serving CEO, his reappointment as executive chairman is the best way for WWE to effectively capitalise on the rising market for content and live entertainment.

McMahon stepped down as CEO and chairman of the corporation in July of last year.