WWE CEO and President Vince McMahon has “voluntarily withdrew” from his roles within the company amid an investigation into a allegedly having an affair and payment with a WWE employeefollow The Wall Street Journal. Here’s everything we know about McMahon’s ongoing investigation so far.
What is the allegation?
In the words of The Wall Street Journal.
An internal investigation launched by a WWE special committee found that McMahon had entered into similar non-disclosure agreements with other female WWE ex-employees alleging misconduct by both McMahon and his partner. WWE talent relations head John Laurinaitis, according to WSJof reports.
WWE board members are said to have launched their investigation into McMahon in April, after they learned of the CEO’s alleged misconduct through anonymous emails sent to the company from an who claims to be friends with a former WWE attorney.
What does this mean for the plot?
Based on a joint press release from WWE’s board of directors, McMahon will retain his “role and responsibility” for creative storylines while he is under investigation.
And what does it mean for the company?
For now, it’s unclear whether McMahon will continue his duties as CEO or chairman. For the time being, his daughter Stephanie McMahon will serve as the company’s interim President and CEO. There’s a chance she could take over if her father permanently resigns.
Paul “Triple H” Levesque, husband of Stephanie, a former WWE superstar and executive vice president of global strategy and talent development, could be tapped to run the company in place of Vince, though. His health could get in the way. Back in September, Levesque suffered from heart failure, forced to retire on stage, according to ESPN. The Wrestling Observer news reports further that Levesque has returned to work full-time at the WWE office, recruiting new wrestlers after recovering from his health.
Shane McMahon, son of Vince, could also fill the CEO position with experience booking wrestling shows with WWE and “Monday Night War” competitor WCWthough his chances are pretty low after he left the company in February following Royal Rumble’s pay-per-view, according to Sports Illustrated.
Fans and media speculated that WWE recently Mass release of wrestlers could signal the company’s plans to eventually sell itself. However Nick Khan, WWE’s president and chief revenue officer, denied the rumours. Khan said WWE is “not proactive in conversations” nor is it “actively seeking to sell,” according to Bleacher Report.
Has WWE been sued or investigated before?
In 1994, Vince McMahon was accused of supply illegal performance enhancing drugs by United States Attorney for the Eastern District of New York. The jury found McMahon not guilty.
In 1999, Martha Hart, the wife of the late Owen Hart, sued WWE (then known as the World Wrestling Federation) for a false claim after the wrestler fell to his death when his grappling belt malfunctioned during his descent from the bar. house on the ring at Over the Edge pay-per-view. Controversial, the company decided to continue the event while Hart was evacuated Kemper arena to Truman Medical Center, where he died of severe trauma and internal bleeding. WWE granted an $18 million payout to Martha in 2000, which she used to set up the nonprofit charity, Owen Hart Foundation.
Follow Cnet. This decision caused the company to change its name to World Wrestling Entertainment.
