Stock Market News

WWE chief Vince McMahon to retire

2022.07.22 23:53

WWE chief Vince McMahon to retire
FILE PHOTO: World Wrestling Entertainment chairman Vince McMahon looks out at the crowd during a segment of NBC’s “Today” show in New York, U.S., April 2, 2007. REUTERS/Brendan McDermid

(Reuters) – World Wrestling (NYSE:WWE) Entertainment Inc’s Vince McMahon said on Friday he will retire as the company’s chief executive and chairman, barely a month after stepping back from those roles due to an investigation into his alleged misconduct.

McMahon was being investigated by the board for a secret $3 million settlement that he had agreed to pay to a departing employee with whom he allegedly had an affair, the Wall Street Journal had previously reported.

A spokesperson for WWE declined to comment.

The company, which produces and distributes weekly wrestling shows “Raw” and “Smackdown”, had named his daughter Stephanie McMahon as the interim head.

Source

Related Articles

Leave a Reply

Back to top button