McMahon has been a major part of the WWE for decades. The news follows an investigation into McMahon paying millions in hush money to cover up alleged infidelity and misconduct with multiple women.
Vince McMahon, the former WWE chief executive, is retiring from the company, he said in a statement on Friday. The news follows an investigation into McMahon paying millions of dollars in hush money to cover up alleged infidelity and misconduct with multiple women.
Last month, a report in the Wall Street Journal said the company's board was investigating McMahon for agreeing to pay a secret $3 million settlement to a former employee with whom he allegedly had an affair. National News Investigation at WWE upends leadership; McMahon steps down The longtime WWE boss agreed to step back from his role as chairman and CEO while the investigation was ongoing. His daughter, Stephanie McMahon, and president Nick Khan will serve as co-CEOs.
The CEO helped turn the company into a global brand and media powerhouse, which currently has deals with Fox and NBCUniversal. McMahon also helped to elevate many famous wrestlers, like The Rock, John Cena and Stone Cold Steve Austin.
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