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Vince McMahon, the chairman and CEO of WWE, will voluntarily step down till an investigation of alleged misconduct is concluded.
“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. I’ve additionally pledged to simply accept the findings and final result of the investigation, no matter they’re,” McMahon mentioned in a assertion launched by WWE.
The committee has appointed Stephanie McMahon — McMahon’s daughter and the corporate’s chief model officer — as CEO and chairwoman within the interim. McMahon will nonetheless retain his duties pertaining to his inventive content material position amid the continuing investigation.
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What are the allegations of misconduct?
WWE particular committee is investigating whether or not $3 million was secretly paid to a former worker to cowl up an alleged affair with McMahon. The phrases of the settlement demanded the unnamed worker stay silent on the matter and prevents her from “discussing her relationship with Mr. McMahon or disparaging him,” in response to the Wall Avenue Journal.
In emails acquired by the investigation, the committee found proof of the connection, in addition to a rise within the worker’s paralegal wage from $100,000 to $200,000, as soon as the connection between the 2 turned sexual. The board, nevertheless, has decided by the investigation to date that the connection was consensual.
Different claims of misconduct had been discovered in opposition to WWE’s head of expertise relations, John Laurinaitis.
McMahon’s lawyer, Jerry McDevitt, has emphasised that the previous worker by no means made any claims of harassment in opposition to McMahon.
McMahon, who has run the WWE for over 40 years, has a web value of $2.3 billion, in response to Forbes.
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