Vince McMahon retires as CEO of WWE amid probe into misconduct allegations
Vince McMahon announced his retirement from World Wrestling Entertainment Inc. on Friday, officially leaving the company that he built into the world’s most powerful wrestling organization over four decades.
McMahon has been embattled of late, taking a leave of absence from the helm of WWE WWE, +0.62% amid reports that he had an affair with a worker and paid millions in hush money to cover it up. McMahon’s daughter, Stephanie McMahon, had taken over his position on an interim basis, and will now be permanent co-chief executive of the company with Nick Khan, who had been serving as president. The WWE had launched an internal probe on the matter.
News of McMahon’s departure sent ripples throughout an industry convinced that the icon they called “Vince” and “Mr. McMahon” would only leave on his terms.
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