McMahon steps down amid an ongoing investigation into a nondiclosure agreement signed with a former female employee of WWE.
In a big development significant for World Wrestling Entertainment stars as well as fans, CEO and chairman Vince McMahon has “voluntarily stepped back” from his role in the company. McMahon stepped down due to an ongoing investigation by the board of directors of the leading professional wrestling promotion.
The probe into allegations of misconduct was announced by WWE on Friday.
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” Vince McMahon said in a statement.
What are the allegations against Vince McMahon?
The investigation is into claims that Vince McMahon did a $3 million settlement with a former female employee with whom he had been in an affair. As per a report by the Wall Street Journal, the separation agreement signed in January 2022, the ex-WWE employee was barred from discussing her relationship with the WWE chief or doing anything “disparaging” against him. She was hired by the company in 2019 as a paralegal.
The probe begun in April and it led to earlier nondisclosure agreements which involved allegations by former female employees of misconduct by McMahon, WWE’s top executive John Laurinaitis.
Who leads WWE until the ongoing investigation?
For the time-being, the WWE reigns will be taken over by McMahon’s daughter Stephanie McMahon as the Interim CEO and Interim chairwoman.
While away from his CEO until the investigation, chairman duties, McMahon will continue the duties related to creative content at the company which had a revenue of $1.1 billion last year.
While WWE avoided commenting on the probe, it said that the board takes “all allegations of misconduct very seriously”, announcing an “independent review” as well as a “comprehensive review of the company`s compliance program, HR function and overall culture” by an independent third party.
READ | Avesh Khan's triple wicket over takes Indian team to victory over South Africa by 82 runs in the 4th T20I
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Vince McMahon")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}