WWE officials announced Friday that the company is investigating CEO Vince McMahon for misconduct, and his daughter Stephanie is taking over interim duties as the head of the Connecticut-based wrestling organization.
Stamford-based World Wrestling Entertainment, known as WWE, and its board of directors announced Friday that a special committee is reviewing alleged executive misconduct by McMahon and head of talent relations John Laurinaitis. In the meantime, Stephanie McMahon will resume interim CEO and chairwoman duties at WWE.
The board said Vince McMahon voluntarily “stepped back” from his responsibilities as an executive until the investigation is complete. The company said he will retain his role and responsibilities related to WWE’s creative content during this period and “remains committed to cooperating with the review underway.”
The investigation announcement comes just days after the Wall Street Journal detailed an alleged $3 million settlement Vince McMahon was using to hide an affair.
The Wall Street Journal said the WWE board was investigating the alleged settlement that Vince McMahon agreed to pay to a former employee in Jan. 2022. The Wall Street Journal said the separation agreement bars the woman from discussing her relationship with Vince McMahon or disparaging him.
The Wall Street Journal said that, in investigating that settlement, WWE found more claims of misconduct by Vince McMahon and Laurinaitis.
Stephanie McMahon said she’ll cooperate with the investigation and support its outcomes.
Company officials said the board has engaged independent legal counsel to help with an independent review as part of the investigation.
