STAMFORD, CT (CelebrityAccess) — World Wrestling Entertainment Chairman and CEO Vince McMahon is stepping back from at least some aspects of his leadership role while WWE’s board of directors investigates allegations of misconduct leveled at McMahon and John Laurinaitis, WWE’s head of talent relations.
According to a statement from the WWE’s board, a special committee has been formed to conduct an investigation into the alleged misconduct. Stephanie McMahon, WWE’s Chief Brand Officer and Vince McMahon’s daughter, was named interim CEO and interim Chairwoman during the investigation., Vince McMahon will continue to fill his role and responsibilities related to WWE’s creative content while the investigation is underway.
“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,” said Mr. McMahon.
“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. 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,” said Ms. McMahon.
The investigation follows allegations that came to light in a report by the Wall Street Journal that a $3 million dollar payment was made to a woman to conceal up an alleged consensual affair between a WWE paralegal and McMahon. As well, the Journal reported finding additional non-disclose agreements related to additional misconduct allegations against both McMahon and Head of Talent Relations John Laurinaitis by former female WWE employees.
