As noted before, WWE announced on Friday that Vince McMahon would be temporarily stepping down as the CEO and Chairman of the company and Stephanie McMahon to be the acting interim CEO and Chairwoman for the forseeable future. McMahon is currently being investigated by WWE’s Board of Directors over his alleged misconduct towards several former female employees.
Wrestlenomics’ Brandon Thurston reported that McMahon’s employment agreement contract with WWE lists the conditions where the company’s Board of Directors would have the power to fire him from the company.
In regards to the members of WWE’s Board of Directors who are currently investigating McMahon, Dave Meltzer reported in this week’s Wrestling Observer Newsletter that WWE President Nick Khan is not one of those people. Khan reportedly is one of four people on WWE’s Board of Directors who recused themselves from the investigation. The others reportedly are McMahon himself, Stephanie McMahon, and Paul “Triple H” Levesque.
In regards to Stephanie McMahon taking over as interim CEO and Chairwoman, CNBC’s Alex Sherman reported that his sources stated that WWE’s decision to elevate McMahon into the interim role was just for the optics and Vince currently has no intention of actually stepping down.
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