Vince McMahon has voluntarily stepped down from his role as WWE CEO and Chairman amid inquiries by the company’s board over a $3 million deal he reached with a former employee to keep her silent about their affair.
Stephanie McMahon, McMahon’s daughter, will serve as temporary CEO as the probe continues. The board of directors of the corporation set up a Special Committee to look into allegations that McMahon and John Laurinaitis, the head of talent relations, had inappropriate conduct with a former employee.
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What Are The Misbehaviour Allegations Against Vince McMahon?
WWE’s special committee is looking into whether $3 million was surreptitiously given to a former employee by Vince McMahon to cover up their alleged affair. “Discussing her connection with Mr. McMahon or denigrating him” was prohibited by agreement, according to the Wall Street Journal, because of the anonymous employee’s relationship with him.
The committee revealed proof of the connection, as well as a rise in the employee’s paralegal compensation from $100,000 to $200,000. A mutually agreeable connection has been established, according to the board, based on the findings of the study thus far.
John Laurinaitis, the chairman of WWE’s talent relations department, has been accused of misbehavior in the past. There was never any accusation of harassment from the ex-employee against McMahon.
McCahon Said He Would Accept The Investigation’s Results
McMahon made his feelings known about the probe and stated that he would accept the conclusion, pledging his full cooperation. “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,” McMahon said in a statement.
“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 Stephanie McMahon.
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