Vince McMahon has retired from his position as chairman and CEO of WWE as of Friday. A statement declares that his daughter Stephanie McMahon and president Nick Khan will be acting as co-CEOs of WWE moving forward. He had already stepped down as CEO last month and made this departure permanent.
The WWE was rocked with controversy in April when it leaked McMahon may have paid a former paralegal of the company $3 million to not disclose an affair they had together. The WWE board launched an internal investigation into this claim and later located other huge payments and non-disclosure agreements signed by former female employees who accused McMahon and John Laurinaitis of misconduct.
McMahon allegedly paid one woman $7.5 million who said he coerced her into sexual activities, and then let her go when she resisted sexual advances on later occasions. All in all, he allegedly paid four women $12 million.
The McMahon family is heavily involved in the wrestling world, and he purchased WWE from his father Vincent J. McMahon in 1982. He conceptualized the iconic WrestleMania event, which still occurs annually. Vince was also known for getting onscreen for wrestling segments as well, including this now-infamous clip of him getting his head shaved by Donald Trump.
