Vince McMahon’s resignation from the position of WWE Chairman and General Manager is then the subject of a misconduct poll.
McMahon will continue to oversee the pro’s popular circuit challenge during the investigation, World Wrestling Entertainment said Friday. McMahon’s daughter, Stephanie, was named interim president and CEO.
Lily the wall street journal the recent report is that WWE’s Board of Directors raised the issue of a $3 million rebate deal in compensation for his departure by McMahon to an employee with whom he allegedly had a consensual affair.
“I have pledged my full cooperation with the investigation by the special committee. I also promised to accept the findings of the investigation, regardless of their nature,” McMahon said in a statement.
The employee, hired in 2019 with me as a legal assistant, signed a separation agreement in January that prohibits her from discussing her relationship with McMahon or disparaging him, reported the the wall street journal.
The board of directors to report on April and uncovered other, older, nondisclosure agreements involving complaints from former WWE employees of inappropriate actions by McMahon and John Laurinaitis, head of relations at the talent, reported the Wall Street Journal.
In addition to investigating the behaviors of McMahon and Laurinaitis, WWE has promised to cooperate with a third party to also review its compliance program, its human resources department and the general culture within the company.
Fewer shares of Stamford, Connecticut-based World Wrestling Entertainment Inc. slid 4% before market open Friday.