Vince McMahon the now former World Wrestling Entertainment chairman and CEO, announced Friday that he would be retiring. In a public statement released by the WWE, the 76-year-old McMahon announced that his daughter, Stephanie, and the current president Nick Khan will be taking over as co-CEOs.
The relieve of power comes in the wake of a Wall Street Journal report revealing a WWE board investigation into a secret $3 million settlement given by McMahon to a former WWE paralegal. But at the time, McMahon still kept his role as the head of WWE creative, and sources told ESPN that McMahon’s stepping down was done for optics. He left the WWE fans with a public statement.
”Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, surprise you, and always entertain you. I would like to thank my family for mightly 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.”
