Vince McMahon will step down during WWE misconduct investigation
Vince McMahon is stepping down as CEO and chairman of WWE during an investigation into alleged misconduct involving the longtime leader and public face of the organization.
McMahon will continue to oversee WWE's creative content during the investigation, World Wrestling Entertainment said Friday, and named McMahon's daughter, Stephanie, as interim CEO and chairwoman.
Vince McMahon will appear on its live show “SmackDown” later Friday, WWE said on Twitter after it announced the changes in leadership.
The Wall Street Journal reported Wednesday that WWE was investigating an alleged $3 million payment from McMahon to a departing female employee following a consensual affair.
“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in a prepared statement Friday. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
The employee, hired as a paralegal in 2019, has a separation agreement from January that prevents her from discussing her relationship with McMahon or disparaging him, the Journal reported.
The board's investigation, which started in April, found other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by McMahon and John Laurinaitis, the head of talent relations at WWE, the Journal reported.
The WWE is also investigating actions by Laurinaitis.
Outside of the investigation, WWE said Friday that the company and its special committee will work with an independent third-party to perform a comprehensive review of the work environment at the organization.