HomeLatestWWE's Vince McMahon Resigns Amid Sexual Misconduct Probe

WWE’s Vince McMahon Resigns Amid Sexual Misconduct Probe

The former World Wrestling Entertainment CEO Vince McMahon announced Friday (July 22) that he is retiring amid the sexual misconduct probe following a Wall Street Journal report that he paid $12 million hush money to multiple women. Vince hasn’t mentioned anything about the allegations in his statement.

McMahon’s Retirement After Dirty Deeds

The flamboyant showman Vince McMahon, who turned a small wrestling company into a worldwide entertainment business, revealed that he is stepping down as the Chairman and CEO and noted that he still remains the majority shareholder.

McMahon stepped down temporarily as CEO and chairman of WWE in mid-June during an investigation into alleged misconduct. Earlier this month, a bombshell Wall Street Journal report stated that “McMahon agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity”.

At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful,” he wrote on Twitter. However, he did not mention anything about the ongoing investigation in a statement from the company based in Stamford, Connecticut.

McMahon said his daughter, Stephanie, who was named interim CEO and chairperson last month, will serve as chairperson and share CEO duties with Nick Khan, who joined the company in 2020.

“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervour, dedication, and passion as always,” he wrote in the statement, thanking WWE’s generations of fans all over the world. The statement which was published on the WWE website reads as under:

“Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you,” he said. “I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”

About The Allegations…

In July, a Wall Street Journal report brought forward more allegations against the former WWE CEO Vince McMahon stating that he paid $12 million “hush money” to at least four women, in order to cover up “allegations of sexual misconduct and infidelity”.

The report of the hush money, which the Journal said was paid over 16 years, is the latest part of a corporate firestorm for controversial McMahon. It includes claims, such as McMahon coerced a wrestler into giving him oral sex and then demoted her. In 2005, he decided not to renew her contract after she resisted further sexual encounters.

Not only this, other payments occurred in 2006 and 2008, according to the report, and were related to unsolicited nude photos and an affair that the CEO was trying to keep quiet. McMahon is considered as the personification of WWE for decades, he served as the chairman and CEO of WWE, the largest professional wrestling promotion in the world, until 2022.
He was the man behind overseeing its business and operations and performing in the ring under the name “Mr McMahon.” McMahon has effectively run WWE since 1982, essentially taking over for his father. The company’s reported revenues for 2021 exceeded $1 billion. But again, there is a lot behind this successful face, and it is nothing but ugly!
Mallika
I am Mallika Singh, a lawyer and writer by profession. Writing gives me a sense of freedom and independence. I am a keen observer and an ardent reader. When not at work, you can find me at the stable. Horse riding is another passion that keeps me going.
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