Vince McMahon Steps Back from WWE CEO Role Due to Investigation, Stephanie McMahon Named Interim CEO

The WWE has announced that Vince McMahon has “stepped back” from his roles as CEO and chairman of the board as the result of an ongoing investigation into alleged misconduct involving McMahon paying $3 million to a former employee to keep quiet about an alleged affair he had with her. His daughter Stephanie McMahon will serve as interim CEO and interim chairwoman until the investigation is complete. However, Vince McMahon will remain the head booker of WWE’s on-air product and will retain his roles and responsibilities related to WWE’s creative product.

The Wall Street Journal was the first to report on McMahon’s alleged affair and subsequent payment to the employee to keep quiet. The report also alleged that John Laurinaitis, the head of WWE’s talent relations, was also involved with the cover-up and is also being investigated for misconduct.

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McMahon has served as CEO of WWE since 2009, when his wife Linda McMahon resigned from the position to pursue political office. Meanwhile, Stephanie McMahon has been involved with the WWE as both on-air talent and as a corporate executive, most recently serving as the WWE’s chief brand officer before rather unexpectedly taking a leave of absence from her role earlier this year.