Former WWE chief Vince McMahon plans return as executive chairman

(Reuters) - Former World Wrestling Entertainment Chief Executive Officer Vince McMahon plans to return to the company, following his departure last year, he said in a statement on Thursday.

Shares of the entertainment firm rose about 10% in trading after the bell.

McMahon, who has majority voting power in the company, has informed WWE that he is electing himself and two former co-presidents and directors Michelle Wilson and George Barrios to the board.

He said that he expects to assume the role of executive chairman of the board.

McMahon retired in July last year as the company's CEO and chairman, after stepping back from those roles due to an investigation into his alleged misconduct.

(Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber)