Vince McMahon has “voluntarily stepped again” as chairman and CEO of WWE amid an “investigation into alleged misconduct”.
The 76-year-old sports activities leisure firm boss and John Laurinaitis – head of expertise relations who was generally known as Johnny Ace when he wrestled – are reportedly beneath investigation following claims within the Wall Road Journal about multi-million greenback hush cash funds given to ladies who allegedly had sexual relationships with Vince.
Vince’s daughter, Stephanie McMahon, will function interim CEO and chairwoman however her father will nonetheless be working.
The corporate mentioned in an announcement: “McMahon will retain his function and tasks associated to WWE’s artistic content material throughout this era and stays dedicated to cooperating with the evaluate underway.”
Vince – who’s married to the corporate’s former CEO, Linda McMahon – has promised to co-operate totally with the particular committee that has been appointed to deal with the investigation.
He mentioned: “I’ve pledged my full cooperation to the investigation by the particular committee, and I’ll do every thing potential to assist the investigation. I’ve additionally pledged to just accept the findings and consequence of the investigation, no matter they’re.”
Stephanie added: “I like this firm and am dedicated to working with the unbiased administrators to strengthen our tradition and our firm; this can be very vital to me that we’ve a protected and collaborative office.
“I’ve dedicated to doing every thing in my energy to assist the particular committee full its work, together with marshalling the cooperation of all the firm to help within the completion of the investigation and to implement its findings.”
A 3rd-party organisation will work with the committee and their authorized representatives to discover the tradition throughout the WWE.
They added within the assertion: “WWE and its board of administrators take all allegations of misconduct very significantly. The unbiased administrators of the board engaged unbiased authorized counsel to help them with an unbiased evaluate.
“As well as, the particular committee and WWE will work with an unbiased third-party to conduct a complete evaluate of the corporate’s compliance program, HR perform and total tradition.”
The corporate additionally mentioned they “don’t anticipate to have additional remark till the investigation is concluded.”