WWE's Vince McMahon retires after misconduct allegations
Vince McMahon is out.
The longtime WWE CEO announced his retirement Friday after facing multiple allegations of misconduct. He shared the news in a tweet, which was confirmed in a statement from the company.
"As I approach 77 years old, I feel it's time for me to retire as chairman and CEO of WWE," McMahon said. "Throughout the years, it's been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
McMahon served as CEO of WWE since 1982 but stepped aside from the position in June after The Wall Street Journal reported the company's board was investigating a secret hush money payment made to an employee with whom he allegedly had an affair. McMahon has since been accused of paying over $12 million to four women to suppress allegations of misconduct, the Journal said.
In one case, the Journal reported that McMahon paid $7.5 million to a former wrestler he allegedly coerced into giving him oral sex; he allegedly declined to renew her contract after she resisted additional sexual encounters. McMahon also reportedly paid $1 million to a WWE contractor who alleged he sent her unsolicited nude photos. McMahon's retirement came before the board's investigation was completed.
McMahon's daughter, Stephanie McMahon, became interim CEO when he initially stepped aside. On Friday, he said Stephanie McMahon and Nick Khan will serve as co-CEOs going forward.
"I am extremely confident in the continued success of WWE," McMahon said, adding that "as the majority shareholder, I will continue to support WWE in any way I can."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Today's political cartoons - November 2, 2024
Cartoons Saturday's cartoons - anti-fascism, early voter turnout, and more
By The Week US Published
-
Geoff Capes obituary: shot-putter who became the World’s Strongest Man
In the Spotlight The 'mighty figure' was a two-time Commonwealth Champion and world-record holder
By The Week UK Published
-
Israel attacks Iran: a 'limited' retaliation
Talking Point Iran's humiliated leaders must decide how to respond to Netanyahu's measured strike
By The Week UK Published
-
OJ Simpson, star athlete tried for murder, dead at 76
Speed Read The former football hero and murder suspect lost his battle with cancer
By Rafi Schwartz, The Week US Published
-
Momofuku's 'Chili Crunch' trademark uproar
Speed Read The company's attempt to own the sole rights has prompted backlash
By Rafi Schwartz, The Week US Published
-
Kevin Hart awarded Mark Twain Prize
Speed Read He is the 25th recipient of the prestigious comedy prize
By Peter Weber, The Week US Published
-
Is Downton Abbey set to return for a final film?
Speed Read Imelda Staunton reveals that a third movie may be in the pipeline
By Adrienne Wyper, The Week UK Published
-
'Oppenheimer' sweeps Oscars with 7 wins
speed read The film won best picture, best director (Christopher Nolan) and best actor (Cillian Murphy)
By Peter Weber, The Week US Published
-
'Rust' armorer convicted of manslaughter
speed read The film's cinematographer Halyna Hutchins was shot and killed by actor Alec Baldwin during rehearsal
By Peter Weber, The Week US Published
-
The Beatles are getting 4 intersecting biopics
Speed Read Director Sam Mendes is making four separate movies, each told from the perspective of one band member
By Peter Weber, The Week US Published
-
Taylor Swift to Miley Cyrus: female artists dominate 2024 Grammys
Speed Read SZA, Phoebe Bridgers and Lainey Wilson were also among the winners at LA gala
By Arion McNicoll, The Week UK Published