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https://www.ewrestlingnews.com/news/breaking-vince-mcmahon-steps-down-stephanie-mcmahon-new-wwe-ceo

 

Breaking: Vince McMahon Steps Down – Stephanie McMahon New WWE CEO

 

Vince McMahon has stepped down as WWE CEO and has been replaced by his daughter Stephanie in an interim role.

 

Vince McMahon is currently under investigation by WWE’s board of directors and is alleged to have had an extra-marital affair with a female paralegal.

 

V. McMahon doubled the paralegal’s pay and arranged a $3 million ‘hush money’ payment, it is alleged.

 

In a statement on WWE’s corporate website, the change of leadership was announced.

 

 

The statement reads as follows.

 

STAMFORD, Conn.–(BUSINESS WIRE)– WWE and its Board of Directors jointly released the following statement today:

 

Quote

 

“Independent directors continue review of alleged executive misconduct

 

Stephanie McMahon named interim CEO and interim Chairwoman

 

 

Stamford, Conn. – WWE (NYSE: WWE) and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation. McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway.

 

The Special Committee has appointed Stephanie McMahon to serve as interim CEO and interim Chairwoman.

 

“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” said Mr. McMahon.

 

I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings,” said Ms. McMahon.

 

WWE and its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review. In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture.

 

The Company and the Board do not expect to have further comment until the investigation is concluded.”

 

 

 

 

 

Stephanie’s sudden promotion comes weeks after she announced that she would be taking a hiatus from the majority of her WWE duties to spend more time with her family.

 

This is a breaking story and more details will be reported on as they become available.

 

You can keep up with all your wrestling news right here on eWrestlingNews.com. Or, you can follow us over on our Twitter and Facebook pages.
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Listening to Busted Open on SiriusXM. Man, not the day to have Mark Henry on. He's with AEW but he's saying that because Vince is putting out statements that he'll support an investigation and accept results, that means it's smoke without fire.

 

Dude..... Dan Snyder. 

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2 hours ago, @DCGoldPants said:

Dude..... Dan Snyder. 

You're not the only one that thought that. :) 

 

Let's just hope that Steph doesn't decide to redesign everyone's gear. :ols: 

 

Can't wait for Corny's next pod to drop. :evil:

1 hour ago, justice98 said:

 

This cant be advisable.  I wonder if it'll be live promo in the building or a pre-recorded backstage statement.

 

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10 minutes ago, The Evil Genius said:

That was also a horrid show last night. Only saved by a part timer challenging another part timer for his belt. 

 

I stopped watching for years up until AEW launched because I wanted to see if they picked up their game. For the most part they haven't. 

 

I didn't watch at all last night. Sounds like a mess. The writing is terrible. Just slapping together tag teams. Finally made a good stable with Edge and blew it up a min later. Whatever they did to Becky Lynch is dumb. There is no build to anything anymore. 

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  • 3 weeks later...
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Long time pro wrestling fan and I be trying to get into today’s wrestling, especially AEW. Today’s wrestlers are probably in better overall shape than wrestlers of the past, but today’s style just doesn’t allow for the matches to tell a story. It’s was too synchronized. How many unrealistic flips can you attempt in a match? I believe most fans would rather see someone try to break his opponent’s leg(pro wrestling style) and at least give the impression that you can’t stand your opponent. That’s what made wrestling so great and why we all got into it. You legitimately felt that the wrestlers had real beef. AEW should have brought that back to be a real alternative to the WWE. 
 

Don’t necessarily like him, but one of my favorite promos was by an old timer named Ole Anderson. As a member of the Four Horsemen he had an interview on the Saturday 6:05 NWA show where he looked into the camera without cracking a smile and said, “we don’t have to yell, scream and holler. We can meet in a parking lot or the ring because we’re that good. You don’t think so, try us.” That’s being a scary villain. That’s what AEW should be doing. Don’t just be another WWE with a different name. 
 

 

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