Vince McMahon, a longtime govt for World Wrestling Leisure who led skilled wrestling from a sideshow curiosity right into a mainstream phenomenon, has stepped down as chairman and chief govt whereas the corporate’s board investigates allegations of misconduct in opposition to him, the corporate mentioned on Friday.
Stephanie McMahon, his daughter, will take over as interim chief govt and chairwoman, the corporate mentioned in an announcement. Mr. McMahon will stay concerned with the W.W.E.’s artistic content material and “stays dedicated to cooperating with the overview underway,” the corporate mentioned.
“I’ve pledged my full cooperation to the investigation by the Particular Committee, and I’ll do the whole lot doable to assist the investigation,” Mr. McMahon mentioned in an announcement. “I’ve additionally pledged to just accept the findings and consequence of the investigation, no matter they’re.”
On Wednesday, The Wall Avenue Journal reported that Mr. McMahon agreed to pay a secret $3 million settlement to an worker with whom he was mentioned to have had an affair, and that the board had been investigating since April. The investigation unearthed different nondisclosure agreements involving claims of misconduct by Mr. McMahon, The Journal reported.
A lawyer for Mr. McMahon informed The Journal that the worker had not made any claims of harassment in opposition to Mr. McMahon and that he used private funds to pay the settlement.