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Friday, December 2, 2022

Vince McMahon announces retirement from WWE amid misconduct investigation

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Pro wrestling’s Vince McMahon announced his retirement from the WWE on Friday, a month after he resigned from his leadership role as the company investigates allegations of misconduct against him.

In a tweet posted at 4:05 p.m. EDT, 77-year-old McMahon simply said it was “enemy time to retire,” while thanking the “WWE universe.”

In a statement released via WWE, McMahon thanked his colleagues, fans and family.

“Now that I am 77 years old, I feel it is time for me to retire as WWE Chairman and CEO,” he said.

“Over the years, it has been a privilege to help WWE bring you joy, inspire, captivate, surprise and always entertain you.”

On June 17, McMahon had resigned from his role as CEO when the WWE board of directors appointed McMahon’s daughter, Stephanie McMahon, as interim CEO and chairman until the conclusion of the investigation.

The WWE board then said it was investigating both the elder McMahon and John Laurinaitis, head of talent relations, for “alleged misconduct” – but did not provide details on the allegations.

The The Wall Street Journal reported that the WWE board wants to know if McMahon paid a former employee $3 million so she would keep quiet about an affair the two were having.

The ongoing investigation is also investigating allegations of other non-disclosure agreements involving former WWE female employees and Laurinaitis, the paper reported.

Few CEOs are as closely associated with a product as McMahon with professional wrestling. He had appeared many times on WWE broadcasts and would have had almost complete control over scripts and storylines.

McMahon said Friday that he is confident that co-CEOs Stephanie McMahon and Nick Khan will maintain the quality of the product.

“Our global audience can take comfort in the knowledge that WWE will continue to entertain you with the same fervor, dedication and passion as ever,” said the older McMahon. “I have great confidence in WWE’s continued success.”

This is a story in development, please refresh here for updates.


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