WWE’s Vince McMahon ‘steps away’ from CEO roles amid misconduct investigation

WWE Founder and CEO Vince McMahon made a big announcement about his role in the iconic wrestling promotion.

WWE founder and CEO Vince McMahon has “voluntarily stepped down” from his positions as chief executive and president amid an internal investigation stemming from allegations he paid $3 million in cash to an employee he had a relationship with. a case.

The investigation also uncovered several earlier settlements related to allegations of misconduct that other WWE employees made against McMahon, 76, and John Laurinaitis, WWE’s head of talent relations.

Wall Street Journal was the first to report the allegations.

“McMahon will retain his role and responsibilities related to WWE’s creative content during this time and remains committed to cooperating with the ongoing review,” the company said.

The investigation is being overseen by a special committee within the board of directors.

McMahon’s daughter Stephanie will serve as interim CEO and interim president, according to WWE.

The WWE board discovered McMahon’s recent $3 million settlement after receiving a series of anonymous emails from someone claiming to be friends with the woman who was in an alleged relationship with the WWE boss, according to the Journal.

The emails alleged that McMahon hired the woman as a paralegal on a salary of $100,000, then increased her pay to $200,000 after they began a sexual relationship. McMahon also “gave her as a toy” to Laurinaitis, the reported emails said.

“My friend was so scared she quit after Vince McMahon and attorney Jerry paid her millions of dollars to shut up,” wrote the person who sent the initial email.

The email appears to refer to Jerry McDevitt, who works as McMahon’s attorney and did not respond to a Post request for comment. McDevitt wrote in a letter to the Journal that the former paralegal did not accuse McMahon of harassment and that “WWE did not pay any money” to the former employee “on his departure.”

The board found that McMahon used his personal funds to pay former employees who signed the agreements.

McMahon is married to Linda McMahon, who co-founded WWE alongside her husband and served as administrator of the Small Business Administration under President Donald Trump.

This article originally appeared in the New York Post and is reprinted with permission.

Originally posted as WWE’s Vince McMahon ‘walks away’ from CEO roles amid misconduct investigation

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