Vince McMahon Steps Down as WWE CEO and Chairman During Investigation of Alleged Misconduct

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WWE Chairman/CEO Vince McMahon was a winner and a loser this week.

Still in the ring. Hours after Vince McMahon confirmed he would be stepping down as the CEO and Chairman of World Wrestling Entertainment (WWE), he was in great spirits to open the SmackDown Live show.

Joe Otterson TV ReporterVince McMahon opened “SmackDown Live” on Friday night with a brief appearance in the ring.McMahon strutted to the ring with a smile on his face as his theme music — “No Chance in Hell” — played over the speakers. He kept his remarks brief, saying, “It is a privilege as always to stand before you here tonight, the WWE universe…I’m here simply to remind you of the four words we just saw in what we call our WWE signature.

Vince McMahon, the polarizing CEO and chairman of WWE, has voluntarily stepped down from his position amid a new investigation into allegations of sexual misconduct against him.

After decades of serving as the CEO of the World Wrestling Entertainment (WWE), Vince McMahon is stepping down.

Vince McMahon has “voluntarily stepped back” from his roles as chairman and CEO of the WWE.

announced Friday.Stephanie McMahon, Vince’s daughter who took a leave of absence last month from her role as the company’s chief marketing officer, will serve as interim CEO and chairman.

Vince McMahon has “voluntarily stepped back” from his responsibilities as WWE CEO and chairman while the board of directors investigates claims of misconduct against the exec, the company said Friday.The board of WWE has launched an investigation into allegations that McMahon offered a $3 million settlement to a former female employee with whom he had an affair, according to a detailed investigative report Wednesday by the Wall Street Journal.WWE said Stephanie McMahon, Vince’s daughter, will assume the role of interim CEO and interim chairwoman. She comes back to the company after last month announcing a leave of absence as WWE’s chief brand officer to “focus on my family.”Vince McMahon will retain his role and responsibilities related to WWE’s creative content during the investigation and remains “committed to cooperating with the review underway,” the company said Friday.

Vince McMahon, the driving force behind the WWE and the company’s chairman and CEO, is stepping aside pending an investigation into “alleged executive misconduct” by a special committee of the board of directors.

Wall Street Journal. The separation agreement, from January 2022, includes a nondisclosure clause wherein the ex-employee — who was first hired as a paralegal in 2019 and two years later became an assistant to talent relations chief John Laurinaitis — is barred from disparaging McMahon or speaking publicly about their affair.

The World Wrestling Entertainment board is investigating longtime Chairman/CEO Vince McMahon for previously undisclosed settlement agreements with former employees. Those include a payoff of $3 million to a female employee he allegedly had an affair with, according to a Wall Street Journal report.

Wall Street Journal reported on Wednesday that a settlement was reached in January with the woman, who was hired as a paralegal for WWE in 2019, which prevented her from speaking about the supposed relationship with McMahon or making any critical statements about the 76-year-old wrestling promoter. According to WSJ's report, the board's investigation also revealed several nondisclosure pacts related to other misconduct claims from other women who had also worked at WWE.

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