Vince McMahon is stepping down as CEO of World Wrestling Entertainment while the pro wrestling company’s board investigates claims that he made hush-money payments to a former employee over an alleged affair, the company announced.
reported that McMahon paid a secret $3 million to the former employee who was involved in an affair. The separation agreement signed in January prevented the unidentified employee “from discussing her relationship with Mr. McMahon or disparaging him,” according to the Journal.
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” McMahon, 76, said in a statement.Stephanie McMahon, his daughter, will serve as the interim CEO and chairwoman, according to the company. She had recently taken a leave of absence from her role as chief brand officer to “focus on family.
She is on the company board, as is her husband, Paul Levesque, known by wrestling fans as Triple H. Vince McMahon still controls the majority of the voting power.The Journal reported that the WWE’s board received an email on March 30 that alleged McMahon had hired the 41-year-old employee as a paralegal at “a salary of $100,000 but increased it to $200,000 after beginning a sexual relationship with her.
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