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Vince McMahon quits as WWE CEO over affair, $3m hush money

Posted by on June 18, 2022 0

Vince McMahon has stepped down as Chairman and CEO of World Wrestling Entertainment (WWE).

McMahon quit on Friday amid allegations of misconduct and an ongoing investigation.

In a statement, he pledged “complete cooperation” to the probe and promised to do “everything possible” to support it.

The professional wrestling promoter assured that he would “accept the findings and outcome, whatever they are”.

Stephanie McMahon, his daughter and Chief Brand Officer, was named interim CEO and Chairwoman.

A former wrestler, she also promised to assist the special committee and get the company involved in the completion of the investigation.

The WWE Directors commenced the probe in April and found McMahon paid $3million to cover up an affair with an ex-employee.

He reportedly paid off the individual with an upfront payment of $1million and $2million to be paid out over five years.

The 76-year-old American is worth at least $2.4billion, according to Forbes latest ranking.

Vince McMahon quits as WWE CEO over affair, $3m hush money

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