Vince McMahon Steps Back As WWE CEO Amid Investigation Of Alleged Employee Affair
Photo: George Napolitano (Getty Images)
Today, WWE CEO Vince McMahon “voluntarily stepped back” from his roles throughout the firm amid an ongoing investigation of an alleged affair and payout with a WWE worker, based on the Wall Street Journal. His daughter, Stephanie McMahon, will function the wrestling promotion’s interim CEO and chairperson.
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Yesterday, the Wall Street Journal revealed WWE’s board reportedly launched an investigation again in April relating to a $3 million greenback hush cash cost to a former worker. According to WSJ, the girl, who was employed as a paralegal again in 2019, signed a separation settlement with McMahon in January that barred her from discussing or disparaging her relationship with him. A WWE spokesperson additionally advised the paper that “the relationship with the ex-paralegal was consensual.”
WWE board members reportedly realized of McMahon’s alleged hush cash payout following a sequence of nameless emails from somebody who claimed to be associates with the previous WWE paralegal. An inner probe issued by the WWE’s particular committee discovered that McMahon issued related nondisclosure agreements with former feminine WWE staff that additionally alleged misconduct from McMahon, in addition to WWE’s head of expertise relations John Laurinaitis, based on the WSJ’s report.
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“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” McMahon stated in a joint press launch with the WWE board of administrators. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
Despite stepping away from his position as CEO in the meanwhile, the corporate stated McMahon will nonetheless keep artistic management of ongoing WWE storylines whereas he’s below investigation.
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Stephanie McMahon, who has labored throughout the firm and appeared within the ring in-character, stepped again from her position as WWE chief model officer again in May, after the investigation was reportedly already underway, posting on her LinkedIn that she was “taking this time to focus on my family.” According to Cultaholic, an unnamed supply who claims to have data of the reasoning stated Stephanie’s go away of absence had nothing to do along with her father’s ongoing investigation.
“Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO. I love @WWE and all it continues to do to entertain billions around the world,” Stephanie tweeted.
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McMahon is scheduled to look on tonight’s episode of Smackdown.