News broke revealing Vince McMahon is being investigated by WWE’s board of directors. The main claim made against the chairman is that McMahon had an affair with a former WWE employee, and when the consensual relationship came to an end, the boss paid her a $3 million settlement to keep quiet about it.
Just two days later, that investigation has led to Vince voluntarily stepping down as WWE’s CEO and chairman pending the results of the investigation. “Effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation,” a press release issued by WWE reads, via Wrestling Inc.
As for who will fill Vince’s role while the investigation is ongoing, and perhaps for good depending on the results, that will be his daughter, Stephanie McMahon. The boss’s daughter has been appointed interim CEO and interim chairwoman of the company in her father’s absence. Vince won’t be gone completely for the time being. The press release also makes clear that Vince will retain his responsibilities as WWE’s head of creative content.
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” Vince’s part of the official statement from WWE reads. “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,” Stephanie writes. Her return to fill in as chairwoman comes just a month after she stepped back from her role as WWE’s chief brand officer.
It’s currently unclear how this will affect the day-to-day of WWE for the fans, especially since Vince has retained his role as the head of the company’s creative. That could all change depending on the results of the investigation, of course, although the duration of it also remains unclear at present. The investigation also includes other claims of misconduct made against both Vince and John Laurinaitis since the initial news about the alleged affair and payoff broke.