WWE CEO Vince McMahon to step aside amid misconduct probe
The Wall Street Journal claimed WWE’s board uncovered nondisclosure agreements involving claims by ex-WWE staff of misconduct by McMahon and a further exec.
WASHINGTON — Vince McMahon has “voluntarily stepped back” as WWE CEO and chairman as the board of directors investigates allegations involving alleged misconduct, the firm announced Friday.
The investigation consists of claims that McMahon paid $3 million to a previous feminine staff with whom he allegedly experienced an affair, the Wall Street Journal unveiled on Wednesday.
In accordance to the Wall Avenue Journal, the board’s investigation also uncovered more mature nondisclosure agreements that concerned statements by previous WWE workforce of misconduct by McMahon and John Laurinaitis, the head of expertise relations at WWE.
The board mentioned Friday it has brought in independent lawful counsel to guide with an impartial evaluate of the misconduct allegations.
The enterprise said that when McMahon is stepping back again as CEO, he “will keep his purpose and duties related to WWE’s artistic information for the duration of this time period.”
Stephanie McMahon, Vince McMahon’s daughter, will serve as interim CEO and interim chairwoman when the investigation is underway, the business claimed. This comes just a single month following Stephanie McMahon, who served as WWE’s Chief Manufacturer Officer, remaining the organization to consider time to concentrate on her spouse and children. She is married to WWE legend Triple H, who not too long ago retired from in-ring competition just after struggling “heart failure” previous year.
In a assertion, Vince McMahon claimed, “I have pledged my entire cooperation to the investigation by the Particular Committee, and I will do every little thing possible to guidance the investigation. I have also pledged to settle for the findings and result of the investigation, what ever they are.”
WWE is widely seen as the world’s most well-known experienced wrestling brand name, with three weekly reveals that air on primetime Television set and has had touring shows for decades.
