Vince McMahon is stepping back from his role as CEO of WWE for the duration of an investigation into allegations of misconduct:
, the world’s biggest wrestling company. The announcement from WWE and its board of directors came days after a report revealed that the company was investigating McMahon over allegations of misconduct.initial report claimed that the investigation began after an anonymous source contacted WWE’s board of directors with claims that McMahon paid $3 million in a “hush pact” to a former WWE employee who he allegedly had a sexual relationship with.
McMahon’s daughter, longtime WWE executive Stephanie McMahon, will serve as interim CEO and interim Chairwoman during the investigation. Here was her statement on the announcement: Vince McMahon purchased what he transformed into World Wrestling Entertainment from his father, longtime wrestling promoter Vincent J. McMahon, in the summer of 1982. The younger McMahon quickly turned a regional promotion into the dominant force in the industry. He’s been in charge of the company ever since, and took it public in 1999.