August 16, 2022

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WWE's Vince McMahon steps down from leadership position during investigation of misconduct

WWE’s Vince McMahon steps down from leadership position during investigation of misconduct

World Wrestling Entertainment announced on Friday that its famous CEO, Vince McMahon, has done so He abdicated his leadership responsibilities The company is investigating allegations of misconduct against him.

The WWE board has appointed McMahon’s daughter, Stephanie McMahon, as interim CEO and president until the investigation is over.

“I have pledged my full cooperation to the Special Commission’s investigation, and will do my best to support the investigation,” Vince McMahon said in a statement released by Stamford, Connecticut. I also pledged to accept the findings and results of the investigation, whatever they may be.”

Few CEOs are as closely associated with a product as McMahon in pro wrestling. He appears frequently on WWE broadcasts and is said to have almost complete control over scripts and general storylines.

Even while the board considers potential misconduct, managers still allow McMahon to “retain his role and responsibilities in relation to WWE’s creative content during this period”, According to the company’s statement.

This could explain why, Despite the uncertainty about his current status, McMahon will appear in “WWE Friday Night SmackDown” It’s 8 p.m. EDT on Friday.

It is unclear whether he will use the appearance to comment on the council’s investigation.

Stephanie McMahon also said she would support the ongoing investigation.

“I love this company and am committed to working with independent directors to advance our culture and company; it is extremely important to me that we have a safe and collaborative workplace,” she said in the company statement.

“I have committed to doing everything in my power to help the Special Commission complete its work, including enlisting the cooperation of the entire company to help complete the investigation and implement its findings.”

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The Chairman of the Board of Directors of World Wrestling Entertainment Inc. Vince McMahon in the ring during WWE Monday Night Raw at the Thomas & Mack Center on August 24, 2009 in Las Vegas, Nevada.Ethan Miller/Getty Images file

The WWE board said it was investigating both the elder McMahon and John Laurinitis, the head of talent relations, over “alleged misconduct” but did not give any details of the accusations.

The The Wall Street Journal reported that the WWE Board of Directors She wants to know if McMahon paid $3 million to an ex-employee to keep quiet about their affair.

The newspaper reported that the ongoing investigation is also looking into allegations related to other non-disclosure agreements related to former female employees of WWE and Laurentiates.

This is an evolving story. . Please check back for updates