WWE 2022 News: Vince McMahon Resigns Due To Board Investigation

For decades, it seemed like that day would never come.

Vince McMahon stepped down as chairman and CEO of WWE, effective immediately, he announced Saturday morning to AEST. New York Post reports.

McMahon’s announcement comes weeks after news broke that the WWE board was investigating settlements that McMahon had reached with former WWE employees with whom he had a sexual relationship.

“When I turn 77, I feel it is time for me to retire as WWE Chairman and CEO. Over the years it has been my privilege to help WWE bring you joy, inspire, excite, surprise and always entertain you. I would like to thank my family for being a huge contributor to our success, and I would also like to thank all of our former and current superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for letting us into their homes every week and choosing entertainment. I deeply appreciate and admire our generations of fans around the world who have loved, love and sometimes even enjoy our form of sports entertainment,” McMahon said in a statement.

“Our global audience can take comfort in the knowledge that WWE will continue to entertain you with the same zeal, dedication and passion as ever. I have absolute confidence in WWE’s continued success and leave our company in the able hands of an outstanding group of superstars, employees and executives, in particular Chairman and Co-CEO Stephanie McMahon and Co-CEO Nick Hahn. As the majority shareholder, I will continue to support WWE in every way possible. My personal thanks to our community and business partners, shareholders and Board of Directors for their guidance and support over the years. Then. Currently. Forever and ever. Together.”

McMahon’s daughter, Stephanie McMahon, took over as interim CEO as her father resigned from the position during the board’s investigation.

Vince McMahon has remained in charge of creative WWE, and it’s not yet clear what will happen in this direction.

Earlier Friday, WWE announced that Stephanie McMahon’s husband, Paul “Triple H” Levesque, would resume his duties as Executive Vice President of Talent Relations.

In many ways, it’s impossible to imagine WWE without Vince McMahon at the helm. He has led the company since he bought it from his father in 1982 and has overseen every aspect of the business, from storytelling to corporate structure. He was also a talent on the air, both as a broadcaster and as an authority figure. McMahon” that it was impossible to tell where the real man ends and the game begins.

In June, Wall Street Magazine it was first reported that the WWE board was investigating McMahon after they received an anonymous email that he had paid A$4.3 million to keep quiet a former employee with whom he was having an affair.

The email stated that he hired a woman as a paralegal with a salary of $144,000 and doubled it after the romance began. McMahon then “gave her away like a toy” to longtime WWE chief John Laurinaitis, according to the email.

Wall Street Magazine It was later reported that it was found that McMahon paid a total of $17 million., for at least 16 years, with four different women with whom he had sexual relations. One of the women, a former wrestler, said in 2018 that McMahon forced her to perform oral sex many years ago. McMahon was accused of demotion as a wrestler when she ended the relationship and of not renewing his contract when it came up.

This article originally appeared on New York Post and reproduced with permission

Originally published as Vince McMahon Resigns From WWE Due To Board Investigation