Vince McMahon has temporarily stepped down as WWE Chairman and CEO in a shocking development.
In a shocking development, Vince McMahon has temporarily stepped down as WWE Chairman and CEO in wake of an internal investigation of a $3 million payment from Vince McMahon to an ex-employee. Stephanie McMahon—who recently took a leave of absence—has been named interim WWE Chairwoman and CEO in his place.
“WWE (NYSE: WWE) and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation,” read a statement from WWE.
“McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway.”
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation.
