The wrestling scene in the USA has a real scandal. The most powerful man in the industry is affected. WWE boss Vince McMahon allegedly violated company policy by paying hush money. He is now stepping down as chairman and managing director.
He has been one of the faces of the biggest wrestling league in the USA for decades. Vince McMahon has resigned as chairman and chief executive officer of World Wrestling Entertainment (WWE) over an investigation into alleged hush money payments. The company announced this. The board is currently investigating the allegations against the 76-year-old.
McMahon had shaped wrestling and WWE in the USA from a marginal phenomenon to a global mainstream phenomenon and a multi-billion dollar corporation. Stephanie McMahon will take over as interim boss and chair. Her father, Vince, will also continue to be involved with WWE’s creative content and “remains committed to cooperating with the ongoing review,” the company said. “I have pledged my full cooperation with the Special Committee’s investigation and will do all I can to assist in the investigation,” McMahon said. “I have also pledged to accept the results and outcome of the investigation, whatever they may be.”
According to the Wall Street Journal, the 76-year-old allegedly paid a secret $3 million settlement to a paralegal in January 2022 to cover up an affair with her. A lawyer explained that it was not about allegations of harassment against McMahon and that he used his own funds to pay.
The board then launched an investigation in April. Additional non-disclosure agreements with former female employees of the company came to light in the process, alleging McMahon’s wrongdoing, the Journal reported. In addition to McMahon, WWE Head of Talent Relations John Laurinaitis is also affected.
The allegations against the two powerful bosses of WWE are not crimes. However, the group is subject to a publicly accessible “Code of Business Conduct” which is intended to ensure a harassment-free working environment. It prohibits the granting or offering of employment in return for personal intimacy. McMahon and Laurinaitis may have violated company policy.
