{"id":22637,"date":"2022-07-22T21:18:40","date_gmt":"2022-07-22T21:18:40","guid":{"rendered":"https:\/\/harchi90.com\/vince-mcmahon-retires-as-wwe-ceo-after-sexual-misconduct-probe\/"},"modified":"2022-07-22T21:18:40","modified_gmt":"2022-07-22T21:18:40","slug":"vince-mcmahon-retires-as-wwe-ceo-after-sexual-misconduct-probe","status":"publish","type":"post","link":"https:\/\/harchi90.com\/vince-mcmahon-retires-as-wwe-ceo-after-sexual-misconduct-probe\/","title":{"rendered":"Vince McMahon retires as WWE CEO after sexual misconduct probe"},"content":{"rendered":"
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Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.<\/p>\n

Michael N. Todaro | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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World Wrestling Entertainment CEO Vince McMahon announced Friday that he was fully retiring after decades of leading the company founded by his father, a move that comes after WWE’s board said in June it was investigating of sexual misconduct against him.<\/p>\n

Earlier this month, The Wall Street Journal reported that the married McMahon had paid more than $12 million to four women, all of who had been affiliated with the WWE, over the past 16 years to cover up claims of sexual misconduct and infidelity.<\/p>\n

McMahon is by far the best-known promoter of professional wrestling in the United States, following in the footsteps of his father Vince McMahon Sr., and his grandfather Jess McMahon, who long were leading promoters of wrestling shows in the northeast United States.<\/p>\n

McMahon in June had said he was stepping back from his role as CEO and chairman of Stamford, Connecticut-based WWE, while the board’s probe proceeded, installing his daughter Stephanie McMahon as interim CEO.<\/p>\n

But he said at the time that he would retain control over creative content at the company, where he remains the majority shareholder, with about 32% of its stock.<\/p>\n

On Friday, McMahon announced that Stephanie and WWE President Nick Khan were taking over as co-CEOs, and that his daughter would become chairman of the company. McMahon also will no longer have any role involving creative content.<\/p>\n

“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE,” McMahon said in a statement.<\/p>\n

<\/p>\n

“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,” he said.<\/p>\n

“Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”<\/p>\n

McMahon’s wife Linda, a former WWE CEO herself, served as head of the Small Business Administration under then-President Donald Trump from 2017 through 2019.<\/p>\n

Trump is a WWE Hall of Fame inductee. Before becoming president, he participated in wrestling shows put on by the company.<\/p>\n

In 2007, at WrestleMania 23 in Detroit, Trump and McMahon picked a wrestler apiece to “fight” on their behalf in what was dubbed “The Battle of the Billionaires.”<\/p>\n

After Trump’s wrestler, Bobby Lashley, bested McMahon’s proxy, Umaga, Trump used electric clippers to shave McMahon’s head.<\/p>\n

On the heels of Vince McMahon’s retirement announcement, WWE’s stock price did not markedly change in after-hours trading, which saw a low volume of shares changing hands.<\/p>\n

At the close of regular trading Friday, WWE had a market capitalization of about $4.9 billion.<\/p>\n

– Additional reporting by CNBC’s <\/em>Alex Sherman<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n

.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. Michael N. Todaro | Getty Images World Wrestling Entertainment CEO Vince McMahon announced Friday that he was fully retiring after decades of leading the company founded by his father, a move that comes after WWE’s board said …<\/p>\n

Vince McMahon retires as WWE CEO after sexual misconduct probe<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[5],"tags":[326,329,330,2719,109,3229,307,650,10188],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":24011,"url":"https:\/\/harchi90.com\/wwes-vince-mcmahon-announces-full-retirement-amid-misconduct-investigations\/","url_meta":{"origin":22637,"position":0},"title":"WWE’s Vince McMahon announces full retirement amid misconduct investigations","date":"July 24, 2022","format":false,"excerpt":"Vince McMahonphoto: Michael N. Todaro (Getty Images)After spending the last four decades as both the most consistent public face of WWE wrestling, and one of its primary behind-the-scenes architects, Vince McMahon has announced that he's fully retiring from the company this week. per varietynews of the retirement comes not long\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25572,"url":"https:\/\/harchi90.com\/vince-mcmahon-wwe-hush-payments-are-under-federal-investigation\/","url_meta":{"origin":22637,"position":1},"title":"Vince McMahon WWE hush payments are under federal investigation","date":"July 26, 2022","format":false,"excerpt":"WWE Chairman and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES in Las Vegas.Getty ImagesThe Securities and Exchange Commission and federal prosecutor have launched probes into payments made by World Wrestling Entertainment CEO Vince McMahon to settle of sexual misconduct, according\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29962,"url":"https:\/\/harchi90.com\/vince-mcmahons-wife-reacts-to-wwe-resignation-shrugs-off-husbands-accusations-of-sexual-misconduct\/","url_meta":{"origin":22637,"position":2},"title":"Vince McMahon’s wife reacts to WWE resignation, shrugs off husband’s accusations of sexual misconduct","date":"July 30, 2022","format":false,"excerpt":"NEWYou can now listen to Fox News articles! Last week, the news broke that wrestling mogul Vince McMahon was retiring from WWE after already stepping down as the company's CEO.The recession came amid millionsigning of McMahon, paying over $12 in hush money over the past 16 years to \"suppress suppressure\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29870,"url":"https:\/\/harchi90.com\/vince-mcmahon-retires-from-wwe-with-3-4-billion-amid-sexual-harassment-scandal\/","url_meta":{"origin":22637,"position":3},"title":"Vince McMahon retires from WWE with $3.4 billion amid sexual harassment scandal","date":"July 30, 2022","format":false,"excerpt":"Former World Wrestling Entertainment CEO Vince McMahon left the company with a fortune of $3.4 billion after he retired last week amid a sexual harassment scandal that involved millions of dollars in hush money payments, according to reports. In addition to retiring as a multi-billionaire, McMahon still holds voting control\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"CEO Vince McMahon speaks to an audience during a WWE fan appreciation event in Connecticut in 2008.","src":"https:\/\/i0.wp.com\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/WWE-Raw-At-25-1-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":25127,"url":"https:\/\/harchi90.com\/wwe-hints-at-other-probes-into-vince-mcmahon-misconduct-discloses-14-6-million-in-payments\/","url_meta":{"origin":22637,"position":4},"title":"WWE hints at other probes into Vince McMahon misconduct, discloses $14.6 million in payments","date":"July 25, 2022","format":false,"excerpt":"LAS VEGAS, NEVADA - JULY 02: Vince McMahon, Stephanie McMahon and Triple H attend the UFC 276 event at T-Mobile Arena on July 02, 2022 in Las Vegas, Nevada.Jeff Bottari | Ufc | Getty ImagesWorld Wrestling Entertainment on Monday disclosed $14.6 million in previously unrecorded expenses paid personally by top\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10062,"url":"https:\/\/harchi90.com\/report-wwe-boss-mcmahons-hush-cash-bill-over-12-million\/","url_meta":{"origin":22637,"position":5},"title":"Report: WWE boss McMahon’s hush cash bill over $12 million","date":"July 10, 2022","format":false,"excerpt":"NEW YORK (AP) \u2014 The longtime World Wrestling Entertainment impresario Vince McMahon agreed to share more than $12 million over the past 16 years to suppress of sexual misconduct and infidelity, the Wall Street Journal reports.The amount is significantly larger than what was previously known.Four women \u2014 all formerly affiliated\u2026","rel":"","context":"In "Entertainment"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107076529-1655323508605-gettyimages-139068021-68501804.jpeg?v=1655323596&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/22637"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=22637"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/22637\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=22637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=22637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=22637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}