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Vince McMahon announces retirement from WWE amidst affairs and misconduct allegations

McMahon stepped down from his position of Chairman and CEO of WWE in June when the allegations first surfaced.

Abhishek Sandikar Author

Updated - 23 July 2022 12:08 pm

Vince McMahon

The former chairman and CEO of WWE, Vince McMahon has announced retirement from WWE amidst an ongoing investigation by the company’s board of directors regarding alleged affairs and misconduct allegations. McMahon’s retirement comes after the announcement about his stepping down from his roles as chairman and CEO of WWE because of the above-mentioned allegations.

The investigations said that he paid millions of dollars to multiple women for keeping quiet about alleged affairs and misconduct. Multiple reports also say that Vince McMahon ultimately paid a total of $12 million as part of the agreements. He remained part of the board as the head of creative since then, but he will now be leaving that role as well.

“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE,” Vince McMahon said.

“Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand”, a part of the statement read.

“Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment,” the statement from Vince further continued. 

In the statement, Vince McMahon addressed that his daughter Stephanie and WWE President Nick Khan would continue to serve as co-CEOs. While Stephanie will also be serving as the chairwoman. She was named interim CEO when McMahon initially stepped down. 

“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervour, dedication, and passion as always,” McMahon continued. “I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan,” the statement added. 

The 76-year-old further that he will continue to support WWE in any way possible as he continues to hold major share. 

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