Why does Vince need to sign a contract? LOL

[The Idiot]

I admit...I don't know alot about business...but I thought this was kinda weird:

Corporate.WWE.com is reporting that Vince McMahon has signed a new, three year deal with WWE. His contract extension officially begins on January 1, 2011, with the contract renewing each year beyond that unless either party chooses not to extend. Aside from his current duties as Chairman and CEO, he will serve as Creative Director as well as be a writer and performer.

 

[I Suck Ass]

Yeah, that's what I thought. Who did he sign the contract with? He owns the company!

 

[Remix]

No he doesn't. WWE is a publically taded company. He might be the majority shareholder, but he doesn't own the company.

 

[goodlay]

I admit...I don't know alot about business...but I thought this was kinda weird:

Corporate.WWE.com is reporting that Vince McMahon has signed a new, three year deal with WWE. His contract extension officially begins on January 1, 2011, with the contract renewing each year beyond that unless either party chooses not to extend. Aside from his current duties as Chairman and CEO, he will serve as Creative Director as well as be a writer and performer.

Interesting. Looks like the on-screen character is not dead afterall.

 

[The Idiot]

So the part about the contract renewing each year beyond that unless either party chooses not to extend means that the other shareholders can choose to not renew his contract? WTF? lmao

 

[Coco]

I just found my new favorite poster.

 

[Avrusha92]

I was going to make a thread about this, it doesnt make sense, he owns the company why the hell is he signing an extension contract?!?! doesnt make sense, can someone explain?

 

[Wolfdemon]

AJ explained this about 6 hours ago can you not read?

 

[justinsayne]

I was going to make a thread about this, it doesnt make sense, he owns the company why the hell is he signing an extension contract?!?! doesnt make sense, can someone explain?

BECAUSE HE IS ONLY THE MAJORITY OWNER OF THE COMPANY, WWE IS PUBLICLY TRADED THEREFORE HE STILL HAS STOCKHOLDERS, AND A BOARD OF DIRECTORS TO ANSWER TO

Also this is likely just a formality, everyone who works for WWE has to sign some sort of contract, no matter what position they hold within the company, makes plenty of sense