In a momentous week for World Wrestling Entertainment (WWE), the company announced a groundbreaking $5 billion deal with Netflix to shift its flagship program "Raw" to the streaming platform next year. However, this transformative move comes with a significant absence at the helm of the company - Vince McMahon Jr., the founder of WWE.

McMahon, age 78, resigned as executive chairman of WWE's board last week following a lawsuit filed by a former employee accusing him and former wrestler-turned-executive John Laurinaitis of sex abuse and trafficking. McMahon, who denies these allegations, stepped down amidst the backdrop of the company's significant announcement and a record-breaking crowd at the WWE's "Royal Rumble" event.

The departure of McMahon, along with his wife Linda, and their children Stephanie and Shane, marks the first time in four decades that none of the McMahons are leading the company. While this leadership change may raise challenges and spotlight issues of sexism within the organization, industry insiders and wrestling academics see it as an opportunity for WWE.

With new executives now in charge and the Netflix collaboration, the WWE has the chance to explore more mature themes and reach wider international audiences. This could potentially solidify its position as an even larger cultural phenomenon than it already is. Scholars like DeWitt King, a postdoctoral research fellow at the University of California, Irvine, believe that this shift could bring about a more progressive wrestling culture in practice, addressing long-standing criticism of the organization's presentation of female characters and its treatment of female talent.

The WWE has indeed made strides in evolving its portrayal of women, removing the term "Divas" in 2016 and discontinuing "Bra and Panties" matches. The organization now claims that women constitute nearly 40% of its fanbase. However, McMahon's departure also presents serious obstacles. The recent lawsuit against him poses legal and brand risks for the parent company, TKO Group, including WWE and Ultimate Fighting Championship, according to Wall Street analyst firm MoffettNathanson.

While McMahon denies the allegations, and Laurinaitis has not responded, it is clear that the lawsuit casts a shadow over the professional wrestling industry. The parent company has acknowledged the seriousness of the allegations and is addressing the matter internally. To mitigate the fallout, the WWE has implemented new policies, updated its code of conduct, and conducted mandatory trainings for its employees, according to a company spokesperson.

Despite the challenges, Eric Bischoff, a former rival and WWE Hall of Famer, believes that the departure of McMahon provides an opportunity for Paul Levesque, WWE's chief content officer (known as "Triple H" during his wrestling career), to make changes and drive the company forward. Bischoff advises analysts not to be concerned about McMahon's absence but to have a positive outlook on WWE's future.

It is worth noting McMahon's significant impact on the professional wrestling industry. He took over the organization from his father in 1982, absorbed competitors, and cultivated megastars such as Hulk Hogan, "Stone Cold" Steve Austin, John Cena, and Dwayne "The Rock" Johnson, who recently joined TKO Group's board.

Over the years, McMahon weathered multiple scandals that threatened his leadership, including accusations of rape and federal conspiracy charges related to steroid use among WWE wrestlers. Despite the controversies, McMahon has managed to steer the company forward. However, revelations in 2022 regarding payments made to settle allegations of sexual misconduct and extramarital affairs resulted in his brief resignation and an internal review of the payments.

The return of McMahon as board chairman last year raised eyebrows, and now with his departure, reflection on this decision is necessary. Sexual harassment attorney Lisa Banks urges WWE to acknowledge its mistakes and ensure that the corporate culture does not condone such behavior. Strong policies, training, and consequences for those engaging in sexual harassment are essential, she stresses.

For fans of professional wrestling, this leadership transition presents an opportunity for better representation and addressing the demands of younger fans. DeWitt King emphasizes that this is a crucial moment for the WWE to positively engage with women, queer individuals, and people of color who have long had a complex relationship with how they are portrayed in the sport.

As WWE navigates uncharted waters without a McMahon in control, it remains to be seen how the organization will seize this moment of change and continue its dominance in the industry. With a shift to Netflix on the horizon, the WWE has the potential to redefine its image, embrace progressiveness, and captivate an even broader fanbase.