Vince McMahon has “voluntarily stepped back” as WWE CEO and chairman during a board investigation into alleged misconduct with a former female employee, the company said Friday.
McMahon allegedly paid a $3 million settlement to a former female employee with whom he had an affair, The Wall Street Journal reported this week.
Stephanie McMahon, Vince’s daughter, will take over as interim CEO and chairwoman.
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Vince McMahon will continue to work on WWE’s creative content amid the probe. He is “committed to cooperating with the review underway,” the company said.
John Laurinaitis, WWE’s head of talent relations, is also under investigation for alleged misconduct.
This is a developing story. Please check back for updates.