WWE CEO and Chairman Vince McMahon is stepping again from his duties as the corporate’s board investigates alleged misconduct by the chief, the corporate introduced Friday.
The announcement of the transfer and the particular board committee probe comes two days after The Wall Street Journal reported that the WWE board was trying into McMahon for paying a former worker $3 million to maintain her quiet about an alleged affair between the 2 of them.
The report mentioned the probe additionally dug up earlier nondisclosure agreements with former feminine WWE staff who alleged misconduct in opposition to McMahon and one other govt, John Laurinaitis, who used to wrestle below the identify Johnny Ace.
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” McMahon mentioned in a press launch Friday. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
McMahon will stay concerned within the wrestling-media firm’s artistic content material, in response to the discharge.
McMahon’s daughter, Stephanie McMahon, will take over as interim CEO and chairwoman. Stephanie McMahon had mentioned in May that she was pulling again from the majority of her duties as a WWE govt to spend extra time together with her household.
“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace,” Stephanie McMahon mentioned within the launch. “I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings.”
Vince McMahon, 76, is married to Linda McMahon, a former CEO of the wrestling firm who labored as the pinnacle of the Small Business Administration below then-President Donald Trump, a WWE Hall of Famer.
The announcement did not point out whether or not Laurinaitis would additionally step away from his duties whereas the investigation unfolds. The WWE did not instantly reply to a request for additional remark.
This story is growing. Please verify again for updates.