Vince McMahon steps down as WWE CEO while the company investigates alleged misconduct

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 World Wrestling leisure CEO Vince McMahon is stepping apart away from the commercial enterprise side of the wrestling organisation even as an research is conducted into an alleged hush-cash fee to cover up sexual misconduct, the WWE and its board of directors introduced Friday.


McMahon has run the organization for forty years after taking over for his father in 1982, while it was referred to as the arena Wrestling Federation. He's going to still maintain control of the WWE's creative output at some point of the investigation, and the organization introduced he'd appear on Friday night's episode of SmackDown.


"i have pledged my entire cooperation to the research by using the special Committee, and i can do the whole thing viable to guide the research. I have additionally pledged to just accept the findings and outcome of the investigation, something they're," McMahon said inside the agency's assertion.

The Wall road journal mentioned on Wednesday that the board changed into investigating a $three million payout made to a woman to cover up an alleged consensual affair between a WWE paralegal and McMahon, who has faced accusations of sexual misconduct in the past.

The newspaper stated that the board's research uncovered several other nondisclosure agreements reached when it comes to different misconduct claims towards McMahon and Head of expertise family members John Laurinaitis by women who worked for WWE.


Leader emblem Officer Stephanie McMahon, Vince McMahon's daughter and a WWE govt due to the fact 2006, will take over as CEO and chair of the board of administrators in his absence.


The employer stated that similarly to investigating the allegations against McMahon and Laurinaitis, it additionally would hire an outdoor agency to study the organization's human assets department and standard subculture.

The McMahon family has been involved in wrestling for greater than a hundred years, and Vince McMahon regularly cast himself and his youngsters as villains within the WWE's wrestling storylines. The corporation finished a close to-monopoly of the enterprise with the shutdown of world Championship Wrestling in 2001

That has made the circle of relatives billionaires, and they've used some of that cash to get concerned in Republican politics, such as two failed runs for U.S. Senate seats with the aid of Linda McMahon, Vince's wife. She went directly to serve as head of the Small business administration for two years beneath former President Donald Trump.



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