September 16, 2009 / 12:17 PM / 10 years ago

WWE says CEO resigns, names chairman as new CEO

Vince McMahon (L), the chairman of World Wrestling Entertainment, Inc. kisses his wife as he poses with his plaque after his Hollywood Walk of Fame star was unveiled in California March 14, 2008. REUTERS/Fred Prouser

(Reuters) - World Wrestling Entertainment Inc said Chief Executive Linda McMahon resigned to run for the U.S. Senate and named Chairman Vince McMahon to the post.

Linda McMahon, a co-founder of the company and wife of Vince McMahon, plans to contest from the state of Connecticut, the company said in a statement.

Shares of the sports entertainer — which stages live and televised professional wrestling matches — closed at $14.24 Tuesday on the New York Stock Exchange.

Reporting by Vidya Lakshmi in Bangalore; Editing by Unnikrishnan Nair

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