WWE Boss Vince McMahon to Step Aside from CEO, Chair Roles Amid Probe Into Alleged Misconduct
Vince McMahon has “voluntarily stepped back” from his roles as chairman and CEO of the WWE.
Deadline reported the news on Friday (June 17), confirming that Vince‘s daughter Stephanie McMahon would be taking over the role of CEO on an interim basis.
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Earlier this week, The Wall Street Journal wrote that Vince had secretly paid $3 million to a former female employee he had allegedly had an affair with. The report also uncovered other payments and legal agreements that had been made with other women who worked at the organization.
John Laurinaitis, head of talent relations at the company, has also been included in the investigation. Vince will “retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” according to a press release.
“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 said in a statement.
As Deadline notes, Vince and his family effectively control the WWE through their ownership of Class B shares, which grants them decisive voting power.
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