Vince McMahon no longer WWE CEO

[XIV]

Vince McMahon has stepped down as WWE CEO and has been replaced by his daughter Stephanie in an interim role.

Vince McMahon is currently under investigation by WWE’s board of directors and is alleged to have had an extra-marital affair with a female paralegal.

V. McMahon doubled the paralegal’s pay and arranged a $3 million ‘hush money’ payment, it is alleged.

In a statement on WWE’s corporate website, the change of leadership was announced.

The statement reads as follows.

STAMFORD, Conn.–(BUSINESS WIRE)– WWE and its Board of Directors jointly released the following statement today:

“Independent directors continue review of alleged executive misconduct

Stephanie McMahon named interim CEO and interim Chairwoman

Stamford, Conn. – WWE (NYSE: WWE) and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation. 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.

The Special Committee has appointed Stephanie McMahon to serve as interim CEO and interim Chairwoman.

“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” said Mr. McMahon.

“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,” said Ms. McMahon.

WWE and its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review. In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture.

The Company and the Board do not expect to have further comment until the investigation is concluded.”

Stephanie’s sudden promotion comes weeks after she announced that she would be taking a hiatus from the majority of her WWE duties to spend more time with her family.

https://www.ewrestlingnews.com/news/bre ... ew-wwe-ceo

[XIV]

This is significant.

This is the biggest statement of "guilt" I think Vince could have made. Think about how many scandals he has faced before and at no point has he ever decided to "stand back".

I other news, I hope Stephanie enjoyed her 2 week break.

[Big Red Machine]

Cue conspiracy theories about Steph & Hunter being behind the leak.

[XIV]

Cue conspiracy theories about Steph & Hunter being behind the leak.

I mean, those McMahon's are ruthless.

But, what this does show, is that a McMahon will have to succeed Vince permanently when the time comes. Because, why didn't Nick Khan stand in? Why not some other high ranking employee?

Because to steady the ship and keep the shareholders happy, they recognised that keeping that recognisable McMahon name over the door is key.

Sadly though, as Vince is still the creative, it does mean on the screen stuff will still be bland and shit, but he is supposedly showing up on Smackdown, so that's must watch TV. He either confronts it head on or he ignores it all together, both are risky plays. Showing up on national TV tonight is a bold strategy Cotton, let's see if it pays off.