Last minute in the WWE Universe. Vince McMahon retired and relinquished his position as CEO and Chairman of the WWE Board. The company issued a press release confirming the news and announcing that Stephanie McMahon will occupy his position while the recent case of misconduct for allegedly paying an employee to keep her extramarital affair quiet is investigated.
McMahon voluntarily resigned as CEO and Chairman of the Board pending the completion of the investigation. He will retain his role and responsibilities related to WWE creative content during this time and remains committed to cooperating with the ongoing review, according to his statements.
“I have pledged to cooperate fully with the Special Committee’s investigation and will do my best to support the investigation. I have also pledged to accept the findings and results of the investigation, whatever they may be,” Vince McMahon told the media.
“I love this company and am committed to working with the Independent Directors to strengthen our culture and business, it is extremely important to me that we have a safe and collaborative workplace. MI pledged to do everything in my power to help the Special Committee complete its workincluding company-wide cooperation to help complete the investigation and enforce its findings.”
The scandal that involved Vince McMahon
WWE is investigating a possible embezzlement that may be related to inappropriate conduct by Vince McMahon and John Laurinaitis towards several company employees. The scandal became public knowledge thanks to an article published in the Wall Street Journal, where it was revealed that Vince McMahon had bought the silence of at least one of them. These sources said the relationship between Vince McMahon and the paralegal was “known” to many in the business, and even pointed out that she received a substantial promotion amid budget cuts in April 2021. Additionally, they claim she was promoted from John Laurinaitis’ assistant to a “director” role that spring.
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