Vince McMahon steps down!!!

[The Legend]

https://www.espn.com/wwe/story/_/id/34106615/vince-mcmahon-steps-aside-wwe-chairman-ceo-amid-investigation-alleged-hush-money-payment

The WWE Board of Directors, turns out its a real thing (lol), is investigating that Vince hired a woman as a paralegal essentially as hush money for an affair he had with her. Wound up paying her $3 million. Now he's out while it's being investigated. For years there's been speculation on what would cause Vince to leave the company he built, not sure anyone ever guessed this, but we probably should have.

[The Legend]

I should add that in recent months HHH and Stephanie have both stepped down as well. It feels like a sale of WWE may actually be close to happening at this point.

[AkydefGoldberg]

The stepping down seems a public relations move as he's still in charge of creative and happy enough to appear on Smackdown (tbh he looks every bit the 76 year old and judging by how he sold the Stunner at Mania, best he's kept off screen) for a meaningless minute so he's not sweating it.

It shows where his morals are that he had an affair but the thing that has caused him an issue is paying hush money but this could encourage other women to speak out on the culture of the company and/or if there are other women who've experienced mistreatment.

Could it be WWE's Me Too?

[Everlong]

Holy shit, this is the first I'm hearing of this. So Vince, Trips and Steph ALL gone?!?!?

Honestly, the best thing that could happen to WWE would be a sale.

[AkydefGoldberg]

Vince is on-screen alot more than he has been after the story emerged, including a mundane intro for Smackdown and being on RAW for Cena's 20th anniversary.

Steph is in charge apparently but Triple H is back in NXT yet not sure if that's true as last I heard Vince was getting rid of his allies whilst he was off with his heart issue.

[KaiserGlider]

Vince was still in charge of creative, until today...

Vince McMahon has retired as Chairman, CEO, and Head of Creative of WWE. This comes after a slew of investigations of sexual harrassment and affairs paired with hush money settlements to keep said activities quiet.

Official Statement from WWE Corporate:

STAMFORD, Conn., July 22, 2022 – Vince McMahon today released the following statement:

“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. 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.

“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. 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.”

Letter to Talent from Vince, per verified WWE insider kerrmit125

To all WWE Superstars: as I approach 77 years old (OMG am I really that old?), I feel it's time for me to retire. I've thoroughly enjoyed sharing my passion, wisdom, and love of the business with you. No longer will you see the smiling, docile, level-headed, calm presence at Gorilla every week.

Your dedication to WWE will ensure that our company will continue to grow and prosper. Our organization is nothing without you. You are WWE's only natural resource, chosen to perform in front of a global audience.

You are all WWE Global Ambassadors. Carry the WWE flag wherever you go. Wave it high and proud. And bust your ass to be all you can be as a person and as a performer.

One other thing-I won't be with you, but I'll be watching. Remember to keep your hands up, grab a hold, and sell. Btw, SmackDown airs live tonight at 8pm Eastern/7pm Central on FOX.

Vince

Wow.

Steph is Co-Chairman with Nick Khan, and Triple H has been reinstated as head of talent relations.