Breaking: Vince McMahon is retiring as WWE chairman and CEO, he announced today. He said that his daughter Stephanie and current WWE president Nick Khan will be taking over as co-CEOs.
Vince McMahon is retiring as World Wrestling Entertainment chairman and CEO, he announced Friday. In a WWE news release, the 76-year-old McMahon further announced that his daughter, Stephanie, and current WWE president Nick Khan will be taking over as co-CEOs. Stephanie McMahon, who has been acting as interim CEO, will also take over as chairwoman, per the McMahon statement.
The $12 million included an alleged $7.5 million to a former woman WWE wrestler who said that McMahon coerced her into having oral sex, demoted her and then didn't renew her contract in 2005 after she resisted further sexual encounters with him. "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," McMahon said in a statement released Friday to WWE investors."As the majority shareholder, I will continue to support WWE in any way I can.
McMahon will leave a complicated legacy, one rife with scandals, including charges that he provided his wrestlers with steroids levied against him by the United States government in 1994. A jury found McMahon not guilty.
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