McMahon is the most recognisable face at WWE, which he purchased from his father in 1982. He has reportedly agreed to pay more than $US12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.
World Wrestling Entertainment chairman Vince McMahon will step down from his role with the company amid an investigation into alleged misconduct.McMahon is stepping down as chairman and chief executive of WWEIn a brief statement issued by WWE, McMahon said he was retiring as the company's chairman and chief executive. He noted that he remained its majority shareholder.
"At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together," he wrote on Twitter.McMahon said his daughter, Stephanie, would serve as chairperson and share chief executive duties with Nick Khan, who joined the company in 2020. Four women — all formerly affiliated with WWE — signed agreements with McMahon that bar them from discussing their relationships with him, the Wall Street Journal reported, citing people familiar with the deals and documents it reviewed.McMahon has been the leader and most recognisable face at WWE for decades.
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