Vince McMahon is stepping down as CEO and chairman of WWE during an investigation into alleged misconduct.
The Wall Street Journal recently reported that the board was investigating a $3 million settlement that McMahon paid to a departing female employee with whom he allegedly had a consensual affair.
“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 said
McMahon’s daughter, Stephanie, will serve as interim CEO and chairwoman.
McMahon will continue to oversee WWE’s creative content during the investigation.
"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,” McMahon said.