Vince McMahon, a longtime government for World Wrestling Entertainment who led skilled wrestling from a sideshow curiosity right into a mainstream phenomenon, has stepped down as chairman and chief government whereas the corporate’s board investigates allegations of misconduct towards him, the corporate stated on Friday.
Stephanie McMahon, his daughter, will take over as interim chief government and chairwoman, the corporate stated in an announcement. Mr. McMahon will stay concerned with W.W.E.’s inventive content material and “remains committed to cooperating with the review underway,” the corporate stated.
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” Mr. McMahon stated in an announcement. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
Mr. McMahon briefly appeared on “Friday Night SmackDown” in the beginning of the present. He stepped into the ring to applause.
“I’m here simply to remind you of the four words we just saw,” Mr. McMahon informed the gang, referring to the W.W.E. signature in the beginning of the printed. “Those four words are ‘then, now, forever,’ and the most important word is ‘together.’ Welcome to SmackDown.”
Mr. McMahon then dropped a microphone and stepped out of the ring, high-fiving followers as he left.
On Wednesday, The Wall Street Journal reported that Mr. McMahon agreed to pay a secret $3 million settlement to an worker with whom he was stated to have had an affair, and that the board had been investigating since April. The investigation unearthed different nondisclosure agreements involving claims of misconduct by Mr. McMahon, The Journal reported.
A lawyer for Mr. McMahon informed The Journal that the worker had not made any claims of harassment towards Mr. McMahon and that he used private funds to pay the settlement.
Far from an nameless government, Mr. McMahon is among the many most recognizable faces {of professional} wrestling, adopting a swagger-filled public persona who is commonly on the middle of the on-screen motion. Since taking on his father’s wrestling firm in 1982, Mr. McMahon has presided over its ascent right into a cultural large, with greater than $1 billion in income in 2021. W.W.E’s applications are aired in 30 languages and are distributed via NBCUniversal and Fox Sports, amongst others.
The firm stated it had employed impartial authorized counsel to conduct the investigation, and would additionally work with an impartial group to evaluate the corporate’s compliance program, human assets operate and total tradition.
Jesus Jiménez contributed reporting.
