Today, WWE CEO Vince McMahon “voluntarily stepped down” from his roles with the company amid an ongoing investigation into an alleged affair and payoff with a WWE employee. according to Wall Street Journal. His daughter, Stephanie McMahon, will serve as interim CEO and chairman of the promotion.
Yesterday, Wall Street Journal revealed that WWE’s board reportedly launched an investigation back in April into a $3 million hush money payment to a former employee. According to WSJ, a woman who was hired as a paralegal back in 2019, signed a divorce agreement with McMahon in January that forbade her from discussing or humiliating her relationship with him. A WWE spokesperson also told the newspaper that “the relationship with the former paralegal was one of consensuality.”
WWE board members reportedly became aware of McMahon’s alleged silence money payment after a series of anonymous emails from someone claiming to be friends with a former WWE paralegal. An internal investigation by a WWE select committee found that McMahon entered into similar non-disclosure agreements with former WWE employees who also alleged misconduct by McMahon as well as WWE head of talent relations John Laurinaitis. WSJreport.
“I have pledged to cooperate fully with the Special Investigation Committee and will do my best to support the investigation,” McMahon said in a statement. joint press release with WWE Board of Directors. “I also promised to accept the findings and results of the investigation, whatever they may be.”
Despite the fact that he has now stepped down from his position as CEO, company said that McMahon will still retain creative control over current WWE storylines while he is under investigation.
Stephanie McMahon, who worked for the company and appeared in the ring in character, stepped down from her role as chief brand officer for WWE back in May, after an investigation was reportedly under way. LinkedIn that she “was taking that time to focus on my family.” According to cultaholican unnamed source who claims to know the reasons said Stephanie’s vacation had nothing to do with her father’s ongoing investigation.
“Pending the completion of the investigation into the recent allegations, I am honored to take on the role of Interim Chairman and CEO. I love @WWE and everything she continues to do to entertain billions of people around the world.” — Stephanie tweeted.
McMahon should appear on today’s Smackdown episode.