Vince McMahon Retires As WWE CEO – WWE has announced that Vince McMahon has officially stepped down as Chairman and CEO of WWE at the age of 77. Moving forward, Stephanie McMahon and Nick Khan will be Co-CEOs of WWE.
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. 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.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. 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.”
On June 15, the Wall Street Journal reported the WWE board was investigating a secret $3 million settlement that Vince McMahon reportedly agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.
On June 17, McMahon voluntarily stepped back as WWE CEO with Stephanie McMahon being named as the Interim CEO. Vince has appeared on WWE SmackDown and Raw programming multiple times since the initial Wall Street Journal report was published.
WA.Com will continue to update fans on the investigation as more is known.
Vince McMahon Retires As WWE CEO