The Wall Street Journal recently rocked WWE by revealing that Vince McMahon had paid four women over $12 million in hush money. This resulted in McMahon temporarily stepping down from his position of CEO & Chairman, with his daughter Stephanie returning to run the business. Nevertheless, McMahon remained in charge of Creative. Now though, WWE has issued a press release announcing that Vince McMahon has retired, including a statement from the man himself, where he thanks fans but at no point acknowledges the allegations.
As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.
Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.
Vince McMahonWhen the initial story broke, McMahon didn’t hide away and made appearances on both Raw and SmackDown, showing the world he was facing the allegations head-on. Still, many fans on social media continued calling for McMahon to step away from the company he took worldwide. And while it’s doubtful McMahon was troubled by fan opinion, when it comes to the company’s long-term future, it’s likely for the best he steps away now, with there still possibly more stories to break over the coming weeks.
