Vince McMahon, longtime chairman and chief executive officer of World Wrestling Entertainment, announced on Friday that he had RetirementA month after resigning from both posts, while the company’s board of directors is investigating allegations of illegal activity against him.
Stephanie McMahon, daughter of Mr. McMahon Appointment Last month’s interim chairman and chief executive officer will continue to serve as chairman and co-chief executive officer. Nick khanRecently serving as President and Chief Revenue Officer of WWE, the company said: statement..
McMahon departs after The Wall Street Journal report In June, WWE’s board of directors was considering a $ 3 million settlement starting in April, and he agreed to pay the employee he allegedly had a relationship with.
The journal also reported that a board investigation revealed an old non-disclosure agreement that included allegations of illegal activity against Mr. McMahon and another executive. McMahon’s lawyer told the journal that the ex-employee had not harassed him and “WWE did not pay” the ex-employee “at her departure.”
Mr. McMahon in a Twitter post on Friday I have written“At the age of 77, it’s time for me to retire.”
“As a majority shareholder, I will continue to support WWE as much as I can,” he said. statement It was posted on the WWE website.
WWE representatives asked why McMahon retired Link In Mr. McMahon’s statement, he mentioned his age.
After Mr. McMahon took over the company Capitol Wrestling Corporation, From his father Vincent Sr. in 1982, he incorporated it into the television and live event business while playing the leading role in entertainment. In 2008, the New York Times stated that many knew him as “a wide-shouldered, insulting narrator in the ring.”Mr. McMahon Awarded a star At the Hollywood Walk of Fame that same year.
The company is based in Stamford, Connecticut report Revenue in 2021 will exceed $ 1 billion. According to WWE, about 500 live events are held annually, the program is broadcast in 30 languages and distributed through NBC Universal, Fox Sports and others.
