Vince McMahon introduced that he's retiring from WWE amid the ongoing misconduct investigation involving a feminine former worker.
“As I method 77 years previous, I really feel it’s time for me to retire as Chairman and CEO of WWE,” McMahon stated in an announcement.
“All through the years, it’s been a privilege to assist WWE carry you pleasure, encourage you, thrill you, shock you, and at all times entertain you. I want to thank my household for mightily contributing to our success, and I might additionally wish to thank all of our previous and current Superstars and staff for his or her dedication and fervour for our model. Most significantly, I want to thank our followers for permitting us into your properties each week and being your alternative of leisure. I maintain the deepest appreciation and admiration for our generations of followers everywhere in the world who've appreciated, at the moment like, and generally even love our type of Sports activities Leisure.”
McMahon famous in his assertion that he's nonetheless the bulk shareholder.
Stephanie McMahon, Vince’s daughter, will act as CEO and chairwoman.
McMahon has been married to Linda McMahon, the WWE co-founder, since 1966.
Final month, McMahon “voluntarily stepped again” as WWE CEO and chairman throughout a board investigation into alleged misconduct with a former feminine worker. The professional wrestling tycoon allegedly paid a former paralegal $3 million in “hush” settlement to cowl up their affair, The Wall Road Journal reported on the tiime.
The Wall Road Journal later reported that McMahon agreed to pay greater than $12 million over the previous 16 years to suppress allegations of sexual misconduct and infidelity towards 4 girls whole, all of whom had ties to the WWE.
The allegations of misconduct embrace one other affair, and McMahon sending unsolicited nude images of himself to a WWE contractor. A former wrestler additionally alleged McMahon coerced her into giving him oral intercourse. The previous wrestler stated McMahon then demoted her and later declined to resume her contract when she resisted additional sexual encounters with him.
Till the announcement of his retirement on Friday, McMahon remained as head of inventive.
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