After over 40 years of leading World Wrestler Entertainment, taking it from a regional wrestling federation to a global entertainment corporation, Vince McMahon is retiring as CEO amid an internal investigation into hush money payments. The former chairman and CEO of the company announced the news in a tweet, writing, “At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together.”
While this may have come as a shock even two months ago, it’s been a tumultuous time for McMahon, as he had temporarily stepped down from his chairman and CEO roles within the company, following a Wall Street Journal report of an internal WWE investigation into sexual misconduct. It was first reported in early June that McMahon was alleged to have paid a former employee to keep them from discussing an affair. A further Wall Street Journal report claimed the investigation uncovered another $12 million paid out over the years to women.