WWE Boss Vince McMahon Stepping Aside During Board Committee Probe Of Alleged Misconduct

deadline.com:

Vince McMahon, the driving force behind the WWE and the company’s chairman and CEO, is stepping aside pending an investigation into “alleged executive misconduct” by a special committee of the board of directors.Stephanie McMahon, the daughter of the CEO who herself had recently taken a pause from the company in order to “focus on her family,” is taking over the CEO role on an interim basis.

John Laurinaitis, head of talent relations, is also the subject of the board’s investigation.The Wall Street Journal earlier this week surfaced allegations that McMahon had secretly paid $3 million to a former female employee with whom he had conducted an affair.

The payout was alleged to be one of many to women affiliated with the pro wrestling circuit.McMahon “will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” according to a press release this morning.“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. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”Stephanie McMahon said, “I love this company and am committed to working with the independent directors to strengthen our culture and our company; it is extremely important to me that we have a safe and collaborative workplace.

I have committed to doing everything in my power to help the special committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings.”The press release stated that the WWE and its board