Vince McMahon RESIGNS From WWE
Disgraced amidst misconduct allegations, Vince McMahon leaves WWE post.
Vince McMahon has retired from his position as WWE Chairman and CEO.
The longstanding executive and company figurehead broke the news via Twitter earlier tonight, posting the following:-
At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful
Advertisement— Vince McMahon (@VinceMcMahon) July 22, 2022
This announcement was followed immediately by a statement posted to WWE's corporate website, revealing that Vince's daughter, Stephanie, will now serve as the company's co-CEO alongside Nick Khan:-
STAMFORD, Conn., July 22, 2022 – Vince McMahon today released the following statement:
“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.”
Vince McMahon had served as WWE's figurehead since taking the company over from his father, Vince McMahon Sr., in 1982, overseeing its rise to national and global prominence over a long, complicated tenure.
He'll leave behind a complicated legacy. Most recently, a duo of Wall Street Journal reports implicated McMahon in a misconduct scandal, alleging, amongst other things, that he had paid in excess of $12 million in "hush money" to various parties. This figure includes a reported $7.5 million to a former wrestler he is alleged to have coerced into performing oral sex before firing.
Vince had stepped down temporarily as WWE Chairman and CEO in the wake of the first WSJ report breaking.