Stamford: World Wrestling Entertainment (WWE) boss Vince McMahon has announced his resignation from his post amid an investigation into sexual misconduct and infidelity.
But he will remain the majority shareholder of WWE.
McMahon said his daughter, Stephanie McMahon, will serve as chair and current WWE President Nick Khan will serve as co-CEOs.
He had resigned from his role as chairman and CEO after a report revealed an investigation by the WWE Board of Directors into a secret $3 million agreement McMahon gave to a former WWE attorney to quash allegations of sexual misconduct .
In a statement released by WWE on Friday, he said, “As I approach 77 years of age, I feel like it’s time for me to retire as WWE’s Chairman and CEO with the same passion, dedication and.” passion as always.”
“As the controlling shareholder, I will continue to support WWE in any way I can. My personal thanks go to our community and our business partners, shareholders and board of directors for their leadership and support over the years. At that time. Now. Forever. Together,” he said.
“I am extremely confident in the continued success of WWE and leave our company in the capable hands of an extraordinary group of Superstars, employees and leaders,” he said.
(With UNI inputs)