Vince McMahon Announces Retirement From WWE

WWE chairman Vince McMahon at the Wrestlemania Press Conference in New York's Hard Rock Cafe on March 26, 2008.

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Vince McMahon is retiring as WWE CEO and Chairman amid ongoing probes into alleged misconduct.

McMahon previously announced in June that he was stepping down from his roles after the company’s board of directors launched a probe into claims that the WWE chief had paid millions of dollars in “hush money” to multiple women.

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

“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.”

McMahon’s daughter, Stephanie McMahon, and president Nick Khan will take over as co-CEOs of the company.

“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always,” McMahon added. “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.

“As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”

Vince McMahon Reportedly Paid $12 Million In Hush Money To 4 Different Women
Vince McMahon Reportedly Paid $12 Million In Hush Money To 4 Different Women
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