As we speak, WWE CEO Vince McMahon “voluntarily stepped again” from his roles inside the firm amid an ongoing investigation of an alleged affair and payout with a WWE worker, in response to the Wall Avenue Journal. His daughter, Stephanie McMahon, will function the wrestling promotion’s interim CEO and chairperson.
Yesterday, the Wall Avenue Journal revealed WWE’s board reportedly launched an investigation again in April concerning a $3 million greenback hush cash fee to a former worker. In keeping with WSJ, the girl, who was employed as a paralegal again in 2019, signed a separation settlement with McMahon in January that barred her from discussing or disparaging her relationship with him. A WWE spokesperson additionally advised the paper that “the connection with the ex-paralegal was consensual.”
WWE board members reportedly realized of McMahon’s alleged hush cash payout following a sequence of nameless emails from somebody who claimed to be pals with the previous WWE paralegal. An inner probe issued by the WWE’s particular committee discovered that McMahon issued comparable nondisclosure agreements with former feminine WWE staff that additionally alleged misconduct from McMahon, in addition to WWE’s head of expertise relations John Laurinaitis, in response to the WSJ’s report.
“I’ve pledged my full cooperation to the investigation by the Particular Committee, and I’ll do all the pieces doable to assist the investigation,” McMahon mentioned in a joint press launch with the WWE board of administrators. “I’ve additionally pledged to simply accept the findings and final result of the investigation, no matter they’re.”
Regardless of stepping away from his position as CEO in the interim, the corporate mentioned McMahon will nonetheless preserve inventive management of ongoing WWE storylines whereas he’s below investigation.
Stephanie McMahon, who has labored inside the firm and appeared within the ring in-character, stepped again from her position as WWE chief model officer again in Might, after the investigation was reportedly already underway, posting on her LinkedIn that she was “taking this time to deal with my household.” In keeping with Cultaholic, an unnamed supply who claims to have data of the reasoning mentioned Stephanie’s depart of absence had nothing to do along with her father’s ongoing investigation.
“Till the conclusion of the investigation into latest allegations, I’m honored to imagine the position of interim Chairwoman & CEO. I really like @WWE and all it continues to do to entertain billions all over the world,” Stephanie tweeted.
McMahon is scheduled to seem on tonight’s episode of Smackdown.