WWE releases another update on Vince McMahon’s scandal
Vince McMahon is under investigation for the hush money scandal. WWE has now released an update on why it was unable to a better job of keeping a tab on situations earlier.
Vince McMahon's hush money scandal was initially reported to be a $3 million dollar settlement for sexual misconduct against a woman, but was later revealed to be a $12 million dollar settlement for four women. Soon, Vince stepped down from the company as CEO and Chairman.
At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful
WWE released a statement regarding the scandal during its quarterly report to the US Securities and Exchange Commission. In the report, it stated that it did not have an effective control environment, risk assessment or monitoring under the previous management. This was the reason the company was unaware of the payments made by Vince McMahon.
"We did not maintain effective risk assessment based on the criteria established in the COSO framework which resulted in deficiencies in principles associated with risk assessment. Specifically, these control deficiencies constitute material weaknesses, either individually or in the aggregate, relating to: identifying and analyzing risks to the achievement of objectives across the entity." - WWE's quarterly report to the SEC.
Is WWE better in Vince McMahon's absence?
Ever since Triple H took over creative control of WWE's main roster, things have been more exciting. During the media scrum before SummerSlam, Triple H talked about how it would take everyone to successfully continue Vince McMahon's legacy.
“The only way we’re going to [take WWE beyond where it is now] is with a team. That’s with Steph, that’s with Nick Khan... with Kevin Dunn... with everybody that is here. That is, with all this talent, we have the greatest, hardest working talent in the world, and I have no doubt... with this team that we can do it... It’s just a lot of hard work, and we’re all going to grind … because we have the greatest fans in the world, and we’re going to make sure they get everything they want out of this product, and then some.” [H/T wrestlingheadlines.com]
It has only been a couple of weeks since Triple H took control and he has already made a huge impact. The US and Intercontinental titles have been given more importance. Previously released superstars such as Dakota Kai, Karrion Kross, and Dexter Lumis have returned to the company.
⏳ https://t.co/uPr4QQp2ys
Are you enjoying this post-Vince McMahon era of WWE? Share your thoughts in the comments section below.
Suggested: Vince McMahon secrets that most WWE fans don't know about!