Dave Metlzer of the Wrestling Observer talked about the real reason that Paul Heyman and Eric Bischoff were hired as the Executive Directors of WWE RAW and WWE SmackDown respectively. Meltzer revealed that Vince McMahon had long been keen to tie Heyman down to a long contract, with the reason being that he should not make the move to AEW. The main thought was to prevent him from signing with AEW.
Eric Bischoff recently talked about the idea of going to AEW. This might have been enough to sign Bischoff as the second person, as McMahon does not want another WCW on his hands. At the moment, the amount of power and the freedom that the two will be given is not known.
Apparently, it was easier to hire Eric Bischoff over Paul Heyman.
“Bischoff, who had major financial issues in recent years, would have been an easier acquisition in that sense.”Dave Meltzer
The other major reason was that Vince McMahon can’t keep up with the work pressure that he currently has with XFL coming in the near-future.