In the midst of the ongoing misconduct investigation being carried out by the board of directors of the wrestling organisation, Vince McMahon has announced his retirement from WWE, which is sure to shock the professional wrestling community. The investigation was initiated because of allegations that McMahon had engaged in inappropriate behaviour. Vince issued a statement to Variety in which he said, “I feel it’s time for me to retire as Chairman and CEO of WWE.” This announcement came while he was approaching the age of 77.
Vince McMahon has been quoted as saying, “I would like to thank my family for significantly contributing to our success. I would also like to thank all of our former and current Superstars and workers for their dedication and love for our business.” It has been an honour to assist WWE in bringing you happiness, stimulating you, giving you a thrill, surprising you, and always entertaining you.” After that, he expressed his gratitude to the WWE Universe as well as the former and present superstars of the WWE Universe. First and foremost, I would want to express my gratitude to our audience for welcoming us into their homes on a weekly basis and selecting us to provide the entertainment for you. I have the deepest respect and regard for the generations of fans that we have all over the world who have liked our kind of sports entertainment in the past, continue to appreciate it now, and sometimes even cherish it.
Vince McMahon also revealed what would take place with WWE after he stepped down as chairman and CEO. He stated that his daughter Stephanie McMahon and WWE president Nick Khan would take over as co-CEOs, and that Stephanie would also serve as chairwoman: “The World Wrestling Entertainment (WWE) is committed to providing its audience with the same level of fervour, dedication, and passion that it has always demonstrated, which provides our global audience with a sense of comfort. I hand over the reins to a wonderful team of Superstars, staff, and executives, including Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan, because I am confident that WWE will continue to be a huge success.”
Finally, Vince McMahon penned the following: “As WWE’s largest shareholder, I intend to continue assisting the company in any way that I can. Sincere thanks to everyone of our staff, board of directors, corporate and community partners, and stockholders for their leadership and support over the years. Then, now, forever, and all the time with you”
An investigation that was published in the Wall Street Journal exposed how Vince McMahon allegedly paid many women millions of money (reportedly 12 million USD) to keep quiet about allegations of affairs and misbehaviour. For those who are uninformed, this information is provided below. Vince McMahon resigned from his positions as WWE chairman and CEO in June. However, he continued to work for the company in the role of head of creative, which he is also departing from at this time.
In this week’s episode of SmackDown, Stephanie McMahon paid tribute to her father Vince McMahon’s contributions to the organisation before delivering a promo about WWE’s upcoming phase: “Since Vince already had the opportunity to express his gratitude to us, I believe that now is the right time for us to do the same. Although we are eternally grateful for each and every one of you as the WWE Universe, I believe that now is the appropriate time for us to do so. Let’s complete it jointly.” After that, the members of the WWE Universe in attendance joined Stephanie in chanting “Thank you, Vince.” Fans of WWE will likely be confused by Vince McMahon’s statement because of his unrivalled influence over the world of professional wrestling since the 1980s.