WWE Chief McMahon Retires Amid Allegations of Misconduct
World Wrestling Entertainment (WWE) boss Vince McMahon has announced that he will retire following a barrage of allegations of sexual misconduct.
It would be recalled that he stepped down from his roles in WWE last month following reports he paid millions to suppress allegations of sexual misconduct and infidelity.
He, however, easily remains WWE’s majority shareholder and has led WWE for decades, often appearing as a performer in the ring.
In a statement that did not mention the allegations against him, Mr McMahon said he has the “deepest appreciation and admiration for our generations of fans all over the world”.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervour, dedication, and passion as always,” the 77-year-old said.
“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.”
His daughter Stephanie will serve as interim chairperson and co-CEO.
In June, The Wall Street Journal reported that Mr McMahon had agreed to pay $3m (£2.5m) to a former paralegal who said he sexually harassed her at work.
He reportedly agreed to an upfront payment of $1m, with the rest to be doled out over five years and apparently paid by Mr McMahon personally.