WWE CEO and Chairman Vince McMahon has ‘voluntarily stepped down’ from his roles with the company amid an investigation into a alleged affair and payment with WWE employeeaccording to the wall street journal. Here’s everything we know about McMahon’s ongoing investigation so far.
What are the allegations?
McMahon is accused of having an affair with a former WWE paralegal and paying him $3 million as part of a January separation agreement that also prohibited her from discussing or disparaging her relationship with him. , according to the wall street journal.
An internal investigation issued by a special WWE committee reportedly revealed that McMahon had entered into similar nondisclosure agreements with other former WWE employees alleging misconduct on the part of McMahon and the talent relations manager at WWE, John Laurinaitis, according to the WSJreport.
WWE board members reportedly launched the investigation into McMahon in April, after learning of the CEO’s alleged misconduct via anonymous emails sent to the company by someone claiming to be friends with the company. former WWE paralegal.
What does this mean for scenarios?
According a joint press release from the WWE Board of Directors, McMahon will retain his “role and responsibility” on creative storylines while he is investigated.
And what does this mean for the company?
At this time, it is unclear whether McMahon will return as CEO or chairman. For now, his daughter Stephanie McMahon will serve as the company’s interim CEO and president. It is possible that she could take over if her father resigns definitively.
Paul “Triple H” Levesque, who is husband to Stephanie, a former WWE superstar and executive vice president of global talent strategy and development, could be tapped to lead the company in Vince’s place, though. that his health could get in the way. In September, Lévesque suffered heart failure, forcing his retirement from the ring, according to ESPN. The Wrestling Observer newsletter further reported that Levesque has since returned to full-time work in the WWE offices, recruiting new wrestlers after recovering from his health issues.
Shane McMahon, Vince’s son, could also potentially take over as CEO given his previous experience booking wrestling programs with WWE and his “Monday Night Wars” competitor WCWalthough his chances are quite low following his release from the company in February following the company’s Royal Rumble pay per view, according to Sports Illustrated.
Fans and media have speculated that the recent WWE mass release of wrestlers could signal the company’s plan to sell itself eventually. However WWE Chairman and Chief Revenue Officer Nick Khan denied the rumor. Khan said WWE is “not in active conversation” and is “not actively looking to sell”, according to Launderer’s report.
Has WWE ever been sued or investigated?
In 1994, Vince McMahon was charged with providing illegal performance-enhancing drugs by the U.S. Attorney for the Eastern District of New York. The jury found McMahon not guilty.
In 1999, Martha Hart, the late wife Owen Hart, sued WWE (then called the World Wrestling Federation) for a wrongful death lawsuit after the wrestler fell to his death when his grappling line harness malfunctioned while entering the ring rafters at the pay-per-view Over the Edge. Controversially, the company decided to continue with the event while Hart was evacuated from the Kemper at Truman Medical Center where he died of blunt force trauma and internal bleeding. WWE issued an $18 million settlement to Martha in 2000, which she used to form the nonprofit charity, the Owen Hart Foundation.
In 2002, the UK Court of Appeal ruled in favor of the World Wildlife Foundation, which sued what was then the World Wrestling Federation for breaching its 1994 agreement with the organization which prohibited the company from struggle to use the WWF acronym logo, according to CBS. This decision led to the company changing its name to World Wrestling Entertainment.
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