Vince McMahon retires from WWE amid ongoing alleged misconduct investigation; Read Statement

Vince McMahon, in a statement, announced his retirement from WWE amid the wrestling company's board of directors' investigation into his alleged misconduct.

Updated on Jul 25, 2022 02:24 PM IST  |  55.9K
Vince McMahon WWE Retires Statement
Stephanie McMahon and Nick Khan will serve as co-CEOs upon Vince McMahon's departure from WWE.

In an update that's sure to shock the professional wrestling world, Vince McMahon has announced his retirement from WWE amid the ongoing misconduct investigation which has been undertaken by the wrestling company's board of directors. In a statement to Variety, Vince began, "As I approach 77 years old, I feel it's time for me to retire as Chairman and CEO of WWE."

"Throughout the years, it's been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you," Vince McMahon penned before going on to thank his family, past and present WWE superstars and employees and the WWE Universe: "I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment."

Furthermore, Vince McMahon also revealed the next step for WWE post his departure, which will be his daughter Stephanie McMahon and WWE president Nick Khan serving as co-CEOs, with Steph also serving as chairwoman: "Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan."

In conclusion, Vince McMahon penned, "As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together."

For the unversed, a Wall Street Journal exposé revealed how Vince McMahon allegedly paid millions of dollars (reported USD 12 million) to multiple women to keep mum about alleged affairs and misconduct. In June, Vince McMahon stepped down from his roles as chairman and CEO of WWE, but he remained onboard as Head of Creative, a role which he will be exiting now as well.

In this week's SmackDown episode, Stephanie McMahon delivered a promo about WWE's new chapter, but not before paying tribute to her dad Vince McMahon's contributions to the company: "This is the WWE Universe and we are eternally grateful for all of you, but since Vince had the opportunity to thank us, I think this is the moment we take to thank him. Let's do it together." Stephanie then started a "Thank you, Vince" chant as the WWE Universe present joined her. Vince McMahon's announcement will surely have WWE fans in a binder because of the inimitable influence he had over the world of professional wrestling since the 1980s.

ALSO READ: Jon Moxley on WWE: The only problem I really had with anybody was Vince McMahon

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Credits: Variety,WWE,Getty Images

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