Vince McMahon steps back from WWE Chairman, CEO roles during investigation
WICHITA, Kan. (KWCH) - Update 8:30 a.m. WWE has announced that “Mr. McMahon,” the thinly veiled character portrayed by Vince McMahon, will appear on WWE’s live “SmackDown” television show on Friday night.
WWE Chairman and CEO Vince McMahon is stepping back from those roles as he is investigated for alleged misconduct by McMahon and WWE head of talent relations John Laurinaitis. McMahon’s daughter, Stephanie McMahon, who took her own leave of absence from her role as WWE’s Chief Brand Officer earlier this spring, will assume the roles of interim CEO and interim chairwoman.
“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” Vince McMahon said in a statement about the third-party investigation into alleged payoffs of women with whom he was having affairs. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
McMahon, a third-generation promoter, purchased the company from his father, Vincent J. McMahon, and took the company from a primarily northeast territory to a global juggernaut. McMahon put the future of himself and the then-World Wrestling Federation at stake with the first WrestleMania, held in 1985. The event was a massive success, and WWE has been the pre-eminent professional wrestling -- McMahon calls it “sports entertainment” -- organization in the world ever since.
McMahon will maintain his role as the head of WWE’s creative department, which writes and produces the weekly storylines on WWE’s television programs and live events.
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