Vince McMahon Announces Retirement From WWE (LATEST NEWS)

Vince McMahon said that he is leaving WWE because the company’s board of directors is still looking into allegations of wrongdoing.

In a statement released by the sports entertainment company, McMahon said, “As I get closer to 77 years old, I feel it’s time for me to step down as Chairman and CEO of WWE.” “Over the years, it’s been an honor to help WWE bring you happiness, excitement, thrills, surprises, and always entertainment.

I’d like to thank my family for making a big difference in our success. I’d also like to thank all of our Superstars and employees, past and present, for their hard work and love for our brand. I’d like to thank our fans most of all for letting us into their homes every week and choosing us as their entertainment. I have a lot of respect and gratitude for our fans from all over the world who have liked, like now, and sometimes even love our kind of sports entertainment.

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Vince McMahon’s retirement comes after it was announced in June that he would step down as chairman and CEO of WWE while an investigation into claims that he paid multiple women millions of dollars to keep quiet about alleged affairs and misconduct was still going on.

The agreements led to McMahon paying a total of $12 million, according to the Wall Street Journal. Since then, he has stayed on as head of creative, but he will also be leaving that job now.

In his statement, McMahon went on to say that his daughter Stephanie and WWE president Nick Khan would take over as co-CEOs after he left. Stephanie would also be the chairwoman. When her father first left the company, she was put in charge until the new CEO was founded. Since WWE went public, McMahon has been and still is the biggest shareholder.

Vince McMahon Announces Retirement From WWE
Vince McMahon Announces Retirement From WWE

McMahon continued, “Our global audience can rest assured that WWE will continue to entertain you with the same fervor, dedication, and passion as always.” “I’m very sure that WWE will keep doing well, and I leave our company in the hands of an amazing group of Superstars, employees, and executives, especially Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.

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As the person who owns the most shares, I will keep helping WWE in any way I can. I want to thank our business and community partners, our shareholders, and our Board of Directors for their help and guidance over the years. Then, now, always, together.”

The news will definitely shock the world of professional wrestling and the media in general. McMahon is the third generation of his family to be a promoter. In the 1980s, he took over WWE (then called WWF) from his father, Vince McMahon Sr. He took professional wrestling to new heights by breaking away from the traditional territory model of the past and taking his company national and then worldwide.

He was also known for playing the bad guy Mr. McMahon on screen. During WWE’s so-called “Attitude Era,” Mr. McMahon had a famous fight with “Stone Cold” Steve Austin.

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