Vince McMahon steps down as WWE CEO while the company investigates alleged misconduct

 

World Wrestling Entertainment CEO Vince McMahon is stepping away down from the business side of the wrestling company while an disquisition is conducted into an alleged hush- plutocrat payment to cover up sexual misconduct, the WWE and its board of directors blazoned Friday. 

 

 McMahon has run the company for 40 times after taking over for his father in 1982, when it was known as the World Wrestling Federation. He will still maintain control of the WWE's creative affair during the disquisition, and the company blazoned he would appear on Friday night's occasion of SmackDown. 

" I've pledged my complete cooperation to the disquisition by the Special Committee, and I'll do everything possible to support the disquisition. I've also pledged to accept the findings and outgrowth of the disquisition, whatever they are," McMahon said in the company's statement. 

 

 The Wall Street Journal reported on Wednesday that the board was probing a$ 3 million payout made to a woman to cover up an contended consensual affair between a WWE paralegal and McMahon, who has faced allegations of sexual misconduct in the history. 

The review reported that the board's disquisition uncovered several other nondisclosure agreements reached in relation to other misconduct claims against McMahon and Head of Talent Relations John Laurinaitis by women who worked for WWE. 

 

 Chief Brand Officer Stephanie McMahon, Vince McMahon's son and a WWE superintendent since 2006, will take over as CEO and president of the board of directors in his absence. 

The company said that in addition to probing the allegations against McMahon and Laurinaitis, it also would hire an outside company to review the company's mortal coffers department and overall culture. 

 

 The McMahon family has been involved in wrestling for further than a hundred times, and Vince McMahon regularly cast himself and his children as villains in the WWE's wrestling stories. The company achieved a near- monopoly of the assiduity with the arrestment of World Championship Wrestling in 2001. 

That has made the family billionaires, and they have used some of that plutocrat to get involved in Democratic politics, including two failed runs forU.S. Senate seats by Linda McMahon, Vince's woman

 . She went on to serve as head of the Small Business Administration for two times under former President Donald Trump.