Vince McMahon has stepped down as WWE CEO after it was alleged that he secretly paid roughly $3 million to a former employee and doubled her salary so that she would keep quiet about their affair.
The allegations were published by The Wall Street Journal.
“The Wall Street Journal has published a report about WWE with allegations that we and our Board of Directors take seriously. We are cooperating fully with the independent investigation initiated by our Board of Directors,” the WWE said in a statement.
His daughter, Stephanie McMahon, will take over as interim chairman and CEO.
McMahon will cooperate with the investigation.
“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,” he said in a statement.
“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings.”
