Vince McMahon is stepping back from his roles as chairman and CEO of World Wrestling Entertainment, the company said, as the organization investigates a report that he agreed to pay a departing employee over an alleged affair
WWE said on Friday the board had engaged an external legal counsel to assist with an independent review, adding it will also conduct a comprehensive review of the company's compliance program, HR function and overall culture.
Vince McMahon, the chairman of World Wrestling Entertainment, Inc. poses after his Hollywood Walk of Fame star was unveiled during a ceremony in Hollywood, California March 14, 2008. REUTERS/Fred Prouser The company, which produces and distributes weekly wrestling shows "Raw" and "Smackdown", said McMahon, 76, will retain his creative content responsibilities during this period.
The board's investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by McMahon and the head of talent relations, John Laurinaitis, according to the WSJ report.Stephanie McMahon, who has been often touted as her father's successor, took a leave of absence last month to focus on her family.
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