Vince McMahon will step down throughout WWE misconduct probe

Vince McMahon will step down all over WWE misconduct probe

Vince McMahon is stepping down while CEO accompanied by every one one other accompanied by chairperson of WWE all over an an investigation into alleged misconduct involving the longtime leader accompanied by every one one other accompanied by condition face of the organization.

McMahon will convey on accompanied by to oversee WWE's inventive contented all over the investigation, World Wrestling Entertainment said Friday, accompanied by every one one other accompanied by named McMahon's daughter, Stephanie, while interim CEO accompanied by every one one other accompanied by chairwoman.

Vince McMahon will become perceptible on its exist show "SmackDown" subsequent Friday, WWE said on Twitter following it announced the changes inside leadership of the organization.

The Wall Street Journal reported Wednesday that WWE was investigating an alleged $3 million settlement that McMahon paid to a departing feminine employee following a consensual affair.

"I have pledged my complete collaboration to the investigation by the exceptional committee, accompanied by every one one other accompanied by I will do every one thing possible to support the investigation," McMahon said inside a prepared statement Friday. "I have excessively pledged to receive the findings accompanied by every one one other accompanied by consequence of the investigation, whatever they are."

The employee, hired while a paralegal inside 2019, has a separation accord from January that prevents her from discussing her link accompanied by McMahon or disparaging him, the Journal reported.

The board's investigation, which started inside April, found other, older nondisclosure agreements involving claims by former feminine WWE employees of misconduct by McMahon accompanied by every one one other accompanied by John Laurinaitis, the head of talent relations at WWE, the Journal reported.

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Aside from the investigation into the alleged misconduct by McMahon accompanied by every one one other accompanied by Laurinaitis, WWE said that the firm accompanied by every one one other accompanied by its exceptional committee will labour accompanied by an self-governing third-party to perform a comprehensive analysis of the labour environment at the organization.

Vince McMahon has been the leader accompanied by every one one other accompanied by most recognizable face at WWE for decades.

When he purchased the company, at that hour dated the World Wrestling Federation, from his father inside 1982, wrestling matches took place at small venues accompanied by every one one other accompanied by appeared on local cord channels.

The organization underwent a seismic alter under McMahon. He created WrestleMania, a premium exist event that draws millions of fervent viewers.

Revenue last year exceeded $1 billion for the earliest time.

WWE stars have become crossover sensations, including Hulk Hogan, Dwayne "The Rock" Johnson, "Stone Cold" Steve Austin accompanied by every one one other accompanied by John Cena.

Stephanie McMahon, who will lay clasp of over at least temporarily while the leader of WWE, announced last month that she was taking a depart from of non-attendance from the most of her responsibilities at the organization. She had been serving while the company's leader build officer.

Her husband, Paul Levesque, who wrestled under the name Triple H, announced inside March that he was retiring from wrestling due to a heart condition. Levesque serves while WWE's administrative vice president of lord scheme accompanied by every one one other accompanied by development.

"I have committed to doing every one thing inside my ability to assist the Special Committee complete its work, including marshaling the collaboration of the entire firm to assist inside the completion of the investigation accompanied by every one one other accompanied by to tool its findings," she said inside a statement.

Shares of World Wrestling Entertainment Inc., based inside Stamford, Connecticut, slid less than 1% at the opening chime Friday.

Vince McMahon will step down all over WWE misconduct probe