HomeSportsMcMahon steps down as CEO amid hush cash investigation

McMahon steps down as CEO amid hush cash investigation

Vince McMahon is stepping again from day-to-day operations with World Wrestling Leisure amid an investigation into an alleged hush cash cost he made to a former worker.

A report from the Wall Road Journal on Wednesday said that McMahon agreed to a secret $3 million settlement with a former WWE worker. McMahon and the lady, a paralegal who was employed by WWE in 2019, allegedly had an affair. The settlement, which was signed in January, said that the lady couldn’t talk about something about her relationship with McMahon or make disparaging remarks in regards to the 76-year-old.

On Friday, WWE issued a press launch stating {that a} particular committee of its Board of Administrators is conducting an investigation. McMahon has “voluntarily stepped again from his duties as CEO and Chairman of the Board till the conclusion of the investigation.” McMahon’s daughter, Stephanie McMahon, has been named interim CEO and Chairwoman.

WWE head of expertise relations John Laurinaitis was additionally named within the WSJ report. An investigation is alleged to have begun in April and uncovered different nondisclosure agreements pertaining to misconduct claims from former workers towards McMahon and Laurinaitis.

The press launch said that WWE could have no additional remark till the investigation is concluded.

McMahon can also be going through a lawsuit over the tried revival of the XFL.

McMahon will retain his duties associated to WWE’s artistic content material.

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