WWE‘s CEO Vince McMahon had announced his retirement amid a board probe into misconduct claims. In June, McMahon stepped down from his executive duties due to a misconduct probe, revealing the WWE was investing sexual misconduct allegations. McMahon led the company for decades, known in the wrestling world for his announcing before 1997 when he adopted the Mr. McMahon gimmick.
The character of Mr. McMahon quickly became known as an angry tyrant maintaining tight control of the WWE and known for phrases like “You’re fired!” A third generation wrestling promoter, McMahon turned regional promotion into a multi-billion dollar industry after taking over the WWE from his father Vince McMahon Sr. in 1982. McMahon made wrestlers like Hulk Hogan and Dwayne “The Rock” Johnson stars to lead the show and had a large part in molding the WWE into what it is today.
THR states WWE announced McMahon’s decision to retire with statements from McMahon, and him taking to Twitter to express his thanks to the WWE universe. The decision also came with the announcement that McMahon’s daughter Stephanie will serve as chairwoman and co-CEO alongside Nick Khan becoming WWE president and co-CEO. McMahon will relinquish his executive responsibilities, creative responsibilities, and in-character appearances on WWE programs. Read his full comments below.
“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.”
— Vince McMahon (@VinceMcMahon) July 22, 2022
Despite the sexual misconduct probe, McMahon will remain WWE’s majority shareholder. The board of directors’ investigation comes with allegations of McMahon having sexual relationships with employees and paying multiple women millions of dollars in their severance packages. WWE executive and head of talent relations John Laurinaitis is also involved in the allegations, but in a separate press release was said to be returning to his position as head of talent relations.
Whether fans loved or hated McMahon as a CEO or character, he left a big mark on the WWE and showed his thanks to the fans, employees, and his family when retiring. Although it is disheartening to see him go amid sexual misconduct allegations, it is likely not the last of McMahon’s involvement in the wrestling world. Without McMahon, it will be interesting to see how the WWE holds up as a significant content provider for NBCUniversal and Fox, but hopefully, what McMahon helped build will last.
Source: THR, Vince McMahon