Today, WWE CEO Vince McMahon “voluntarily” resigned from his roles within the company amid an ongoing investigation into an alleged affair and payoff with a WWE employee. according to that Wall Street Journal. His daughter Stephanie McMahon will serve as interim CEO and Chair of Wrestling Promotion.
yesterday that Wall Street Journal revealed that the WWE board of directors reportedly opened an investigation into a $3 million hush money payment to a former employee back in April. Corresponding WSJ, the woman who was hired as a paralegal back in 2019, signed a separation agreement with McMahon in January that barred her from discussing or disparaging her relationship with him. A WWE spokesman also told the newspaper that “the relationship with the ex-lawyer was amicable.”
WWE board members reportedly learned of McMahon’s alleged hush-money payout after a series of anonymous emails from someone claiming to be friends with the former WWE attorney. An internal investigation conducted by the WWE Special Committee found that McMahon entered into similar non-disclosure agreements with former female WWE employees who also allege misconduct on the part of McMahon and John Laurinaitis, WWE’s Head of Talent Relations WSJ‘s report.
“I have pledged my full cooperation with the Special Committee’s inquiry and I will do everything I can to assist the inquiry,” McMahon said in one joint press release with the WWE Board of Directors. “I have also pledged to accept the findings and findings of the investigation, whatever they may be.”
Although he is retiring from his role as CEO for the time being, the enterprise said McMahon will continue to have creative control over ongoing WWE storylines while he is under investigation.
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Stephanie McMahon, who has worked within the company and appeared in the role in the ring, resigned and posted her role as WWE brand executive back in May after reports said the investigation was already underway LinkedIn that she was “taking this time to focus on my family.” Corresponding cultaholican unnamed source who claims to be aware of the reasoning said Stephanie’s leave of absence had nothing to do with her father’s ongoing investigation.
“Pending the conclusion of the investigation into the recent allegations, I am honored to assume the role of interim chair and CEO. I love @WWE and all it continues to do to entertain billions around the world,” Stephanie tweeted.
McMahon is scheduled to appear on tonight’s episode of smackdown.
