Vince McMahon, WWE's chairman and CEO, announced his retirement Friday, following a sexual misconduct probe the company began in April.
from his responsibilities as CEO and chairman in June pending the conclusion of the investigation. That same month, Laurinaitis, a former wrestler whose ring name was Johnny Ace, was placed on administrative leave as a result of the allegations.
McMahon comes from a line of wrestling promoters, dating back to his grandfather. In 1982, he bought the company, then called the World Wrestling Federation, from his father, Vincent J. McMahon. In the early 1990s, McMahon was indicted by the Justice Department on several charges, including conspiring to distribute steroids, possession of illegal steroids with intent to distribute and embezzlement of funds to purchase steroids. McMahon was acquitted of all the charges in 1994.His on-screen character, Mr. McMahon was known as one of the most evil and twisted characters on the company’s programming.
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