Vince McMahon retires as CEO and chairman of WWE

Vince McMahon, the owner of WWE, has announced his retirement as CEO chairman of the professional wrestling promoter after weeks of controversy. 

Last month, the exec stepped back from his role after a Wall Street Journal story reported that McMahon, 76, made a secret US$3 million settlement with a former employee with whom he allegedly had an affair in 2019. It would later emerge that this was one of multiple settlements with McMahon paying US$12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.

In announcing his departure, McMahon did not address the allegations but said that he would support an investigation from the company. He said: “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

The WWE is currently facing its biggest scandal since the Chris Benoit double-murder and suicide in 2007, after which it emerged that the wrestler had suffered such significant brain damage during his life that it was compared to that of “an 85-year-old Alzheimer’s patient.”