Vince McMahon has “voluntarily stepped back” from his responsibilities as WWE CEO and chairman as the Wrestling company’s Special Committee of the Board conducts “an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis.”
“McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” WWE said in a statement.
The special committee of the WWE Board appointed Stephanie McMahon to serve as interim CEO and interim Chairwoman.
“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,” Mr. McMahon said in a statement.
“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings,” said Stephanie McMahon.
WWE added in the statement that they and “its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review. In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture.”
Earlier in a report on Wednesday, the Journal reported that Vince McMahon had paid a secret USD 3 million settlement with the former female employee over an alleged affair.
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