WWE Founder and Chief Executive Vince McMahon Retires

The scandal that forced out wrestling mastermind McMahon was not one of the pre-arrange soap opera “works” that built his empire
256

WWE Founder and Chief Executive Vince McMahon has stepped down from his posts as Chairman and CEO of WWE. The news comes on the heels of multiple reports, first that McMahon was under internal investigation for inappropriate workplace conduct and allegedly paying hush money to a staffer he slept with, then that the total hush money paid out was $12 million.

In a statement released by WWE, McMahon stated that at nearly “77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE.” Though McMahon had already stepped away from his front-facing role as Chairman and CEO, he retained involvement in the company in his role as head of talent until today.

Still, sources close to WWE told ESPN at the time that the move was purely about “optics.” With McMahon’s retirement, WWE’s path to repairing its image will begin in earnest.

With McMahon’s outsize role in WWE, it comes as no surprise that his roles will be divided among multiple trusted lieutenants. McMahon’s daughter Stephanie, who had been acting as interim CEO in her father’s absence, will take over as Chairwoman, and will be Co-CEO with current WWE President Nick Kahn. For talent relations, WWE announced in a separate statement that “Paul [‘Triple H’] Levesque will resume his executive position as EVP, Talent Relations.”


Stay on top of the latest in L.A. food and culture. Sign for our newsletters today