Vince McMahon steps aside as WWE CEO amid misconduct investigation
Vince McMahon is tapping out — for now, at least.
WWE said Friday that McMahon will step back from his role as the company's CEO as the board investigates allegations of misconduct. McMahon's daughter, Stephanie McMahon, has been named interim CEO and chairwoman.
The move comes after The Wall Street Journal revealed the WWE board is investigating a secret $3 million settlement between McMahon and a former employee, with whom he allegedly had an affair. During the investigation, the board reportedly turned up other nondisclosure agreements with former female employees who alleged misconduct by McMahon and head of talent relations John Laurinaitis.
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.
"I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation," McMahon said. "I have also pledged to accept the findings and outcome of the investigation, whatever they are."
Despite stepping aside as CEO, WWE said McMahon will "retain his role and responsibilities related to WWE's creative content," and he will appear on Friday's episode of SmackDown. According to CNBC, he plans to address the real-life scandal in character as his Mr. McMahon persona, who is typically portrayed as a villain.
McMahon's daughter, Stephanie, will be taking over the CEO duties less than one month after she announced she would take a leave of absence from her role as chief brand officer "to focus on my family." She said Friday she's "honored" to assume the role of interim chairwoman and CEO until the investigation concludes.
Create an account with the same email registered to your subscription to unlock access.
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 - April 27, 2024
Cartoons Saturday's cartoons - natural gas, fundraising with Ted Cruz, and more
By The Week US Published
-
Aid to Ukraine: too little, too late?
Talking Point House of Representatives finally 'met the moment' but some say it came too late
By The Week UK Published
-
5 generously funny cartoons on the $60 billion foreign aid package
Cartoons Artists take on Republican opposition, aid to Ukraine, and more
By The Week US 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