Washington: In the wake of serious sexual misconduct claims, Vince McMahon, the promoter who turned a pro wrestling event into a global entertainment powerhouse, announced his retirement as the CEO of World Wrestling Entertainment on Friday.
McMahon, whose longtime allies include Donald Trump, at one point established himself as a character in his own wrestling promotions and even started an NFL rival league called the extravagant XFL.
In a statement, McMahon said, “As I near 77 years old, I feel it’s time for me to resign as chairman and CEO of WWE.It has been an honour over the years to work with WWE to delight, inspire, amaze, surprise, and always amuse you.Due to allegations that he had an affair with a staff member and gave her $3 million to keep it a secret, McMahon resigned from his positions with WWE last month. His resignation is still in effect while an internal investigation is being completed.
In the midst of growing allegations of misbehaviour, his daughter Stephanie was appointed interim CEO and chairman while the investigation is continuing.According to a report in The Wall Street Journal published two weeks ago, McMahon has spent more than $12 million paying four former WWE employees to remain silent about affairs and other alleged misconduct over the course of 16 years. One of these women, a former female wrestler, claims he forced her into oral sex.