Vince McMahon is stepping down from his role as chairman and CEO of World Wrestling Entertainment because the agency is investigating a report that he agreed to pay a former employee quietly for an alleged relationship, the company announced Friday.
The board’s special committee is conducting an investigation into alleged misconduct by its chairman and CEO Vincent McMahon and head of talent relations John Lorinitis, and with immediate effect, McMahon has voluntarily resigned as CEO and chairman of the board. Until the investigation is completed, “WWE said in a release.
“(McMahon) will maintain his role and responsibilities related to WWE’s creative content during this time and is committed to collaborating with ongoing reviews.”
McMahon has owned the company since 1982, formerly known as the World Wrestling Federation.
The 76-year-old is scheduled to appear on “SmackDown” on Friday night
“I pledge my full cooperation in the special committee’s investigation, and I will do my best to support the investigation,” McMahon said in a release. “I promise to accept the outcome of the investigation and whatever the outcome.”
McMahon’s daughter Stephanie has confirmed on Twitter that she will serve as interim CEO and chairwoman. He served as the company’s chief brand officer before taking a leave of absence last month.
“Until the investigation into the recent allegations is completed, I am honored to take on the role of interim chairman and CEO,” he wrote.
The Wall Street Journal reported Wednesday that Vince McMahon – who is married – has agreed to a মহিলা 3 million settlement with a former female employee with whom he allegedly had an affair. The employee was hired as a paralegal in 2019.
According to the newspaper, the report’s investigation uncovered other undisclosed contracts involving former employees’ misconduct claims against McMahon and Lorinitis.
WWE said in its release that no further comment was expected until the investigation was completed.
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