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Vince McMahon Steps Down as WWE CEO During Investigation

Vince McMahon Steps Down as WWE CEO During Investigation

Vince McMahon Steps Down as WWE CEO During Investigation

WWE and its board of directors announced Friday that World Wrestling Entertainment CEO Vince McMahon is stepping down from the wrestling company’s business while investigating alleged payments to cover up alleged sexual misconduct. Being done.

McMahon ran the company for 40 years after taking over as his father in 1982, when it was known as the World Wrestling Federation. He will still retain control of WWE’s creative production during the investigation, and the company announced that he would appear in the SmackDown episode on Friday night.

“I have pledged my full support to the Special Committee’s investigation, and I will do everything possible to support the investigation. I have also promised to accept the findings and conclusions of the investigation, even if Whatever it is. ” Statement

The Wall Street Journal reported Wednesday that the board is investigating the payment of 3 million to a woman to cover up an alleged consent case between WWE Paralegal and McMahon, who has previously been accused of sexual misconduct. Have encountered.

The newspaper reported that the board’s investigation uncovered several other non-disclosure agreements reached between women working for WWE and other mismanagement claims against McMahon and Head of Talent Relations John Lorinites. ۔

Chief Brand Officer Stephanie McMahon, daughter of Vince McMahon, and a WWE Executive since 2006, will chair the CEO and Board of Directors in her absence.

The company said that in addition to investigating the allegations against McMahon and Laurinaitis, it would also hire an outside company to review the company’s human resources sector and overall culture.

McMahon’s family has been involved in wrestling for over a hundred years, and Vince McMahon regularly casts himself and his children as villains in WWE’s Wrestling Storylines. The company gained a near-monopoly of the industry with the closure of World Championship Wrestling in 2001.

He has made the family a billionaire, and has used some of that money to get involved in Republican politics, including Vince’s wife, Linda McMahon, in two unsuccessful elections to the US Senate. ۔ She also headed the Small Business Administration for two years under former President Donald Trump.

Related WWE Directors & Officers Under Investigation For Breach Of Fiduciary Duties

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