It is officially over. End of an Era. Vince McMahon has announced his retirement as WWE Chairman and CEO on Friday. The announcement has come upon in the wake of multiple Wall Street Journal reports, including the most recent that alleges McMahon paid out $12 million to cover up instances of “sexual misconduct and infidelity” over a period of 16 years.
Vince McMahon recently got involved in a fresh controversy. After the report about additional non-disclosure agreements that were signed to keep women quiet, many are wondering if more people will come out with accusations. Vince reportedly reacted to the allegations as well.
PWInsider recently noted that there are more Vince McMahon stories being worked on by a number of mainstream media outlets. The outlet also reported that they learned from someone who was contacted for a potential interview that HBO’s Real Sports with Bryant Gumbel, has been prepping a potential story on the McMahon allegations. They have been attempting to reach out to former female employees of the company.
McMahon’s retirement comes after it was announced in June that he would be stepping down from his roles as chairman and CEO of WWE amid an ongoing investigation i
Vince McMahon issues a statement
It has been officially announced that Stephanie McMahon and Nick Khan will take over the higher management duties. Stephanie is the Chairwoman and both of them will serve as Co-CEO
Vince McMahon today released the following statement via Business Wire:
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”
At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful
— Vince McMahon (@VinceMcMahon) July 22, 2022