WWE announced today in a press release that Vince McMahon has “voluntarily stepped back from his responsibilities as CEO and Chairman of the Board” of WWE until the conclusion of the board’s investigation into McMahon and head of talent relations John Laurinaitis over alleged misconduct.
Notably, the press release says that McMahon “will retain his role and responsibilities related to WWE’s creative content during this period.”
Stephanie McMahon has been appointed interim CEO and interim Chairwoman until the conclusion of the investigation.
Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO. I love @WWE and all it continues to do to entertain billions around the world. https://t.co/E2MushpoSG
— Stephanie McMahon (@StephMcMahon) June 17, 2022
WWE also announced that Vince McMahon will appear on SmackDown tonight.
Mr. McMahon will appear on SmackDown tonight at 8 PM ET live on FOX. pic.twitter.com/6XEEDwR0Hy
— WWE (@WWE) June 17, 2022
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” Vince McMahon said in the press release. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company,” Stephanie McMahon said. “It is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings.”
The press release concludes with this:
WWE and its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review. In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture.
The Company and the Board do not expect to have further comment until the investigation is concluded.