Vince McMahon finally reacts to investigation into allegations made against him
Vince McMahon has broken his silence in regards to WWE's investigation into allegations made against him.
In quite possibly the biggest wrestling story of the year, The Wall Street Journal recently reported that WWE is investigating a secret $3 million settlement that McMahon reportedly made as part of an alleged affair with an ex-employee.
WWE’s board is investigating a secret $3 million settlement that longtime CEO Vince McMahon reached with a former employee with whom he allegedly had an affair, according to documents and people familiar on.wsj.com/3QokMry
As previously reported, McMahon has stepped back from the position of WWE CEO. WWE's corporate website announced the news and revealed that Stephanie McMahon has been named interim CEO. The former WWE Chairman commented on the investigation, as mentioned in the release:
“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 Vince McMahon.
Mr. McMahon made it clear that he is fully cooperating with the investigation, and he will accept the outcome no matter what.
Vince McMahon's decision to step away has shook the wrestling world to its core
The release sent out by WWE clearly states that McMahon voluntarily stepped away from his position as the CEO and Chairman of the company. After The Wall Street Journal's report came out, the wrestling world was anticipating an ugly aftermath to the investigation.
McMahon stepping away from the CEO position is one of the most substantial news stories in the wrestling world in a long time. McMahon has been synonymous with WWE for decades on end. His vision to turn WWE into the biggest wrestling company in the world was realized a long time ago, and the promotion has grown beyond anyone's imagination over the past two decades.
Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO. I love @WWE and all it continues to do to entertain billions around the world.
corporate.wwe.com/investors/news…
As for Stephanie McMahon, she recently announced that she was taking a leave of absence from WWE after holding the position of Chief Brand Officer for about nine years.
Stephanie wanted to take the time off to focus on her family, as per her tweet. Her leave of absence didn't last long, due to the investigation. It will be interesting to see how Stephanie fares as WWE's interim CEO in the coming months.