In a brief statement issued by WWE, Vince McMahon said he is retiring as the company’s chairman and CEO. He noted that he remains its majority shareholder.
World Wrestling Entertainment impresario Vince McMahon announced Friday he is retiring amid an investigation into alleged misconduct involving the flamboyant showman who turned a small wrestling company into a worldwide entertainment business.
“At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful,” he wrote on Twitter. McMahon first stepped aside from the top positions last month after the Journal reported at the time that he had agreed to pay $3 million to a former paralegal who said he sexually harassed her on the job. He was supposed to continue overseeing WWE’s creative content during the companies investigation. But then the newspaper reported that McMahon had agreed to pay the significantly larger sum of $12 million.
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