Friday marks the end of an era for World Wrestling Entertainment.
Vince McMahon, who founded the company, has agreed to step down as chief executive officer following recent allegations of a secret $3 million settlement with a former employee he reportedly had an affair with, and mysterious non-disclosure agreements with other employees, according to Wall Street Journal’s Dean Seal.
“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in the statement Friday. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
In the meantime, the company will stay in the family.
McMahon’s daughter, Stephanie McMahon, has been appointed as interim CEO and chairwoman. Vince McMahon will retain his responsibilities related to creative content while the company investigates the allegations.
