Vince McMahon steps down as WWE Chairman and CEO amid sexual misconduct allegations

NEW YORK – World Wrestling Entertainment impresario Vince McMahon says he is retiring.

In a brief statement issued by the company on Friday, McMahon said that he is retiring as chairman and CEO of WWE. He noted that he remains its majority shareholder.

McMahon temporarily stepped down as WWE CEO and Chairman in mid-June during an investigation into alleged misconduct. Earlier this month, the Wall Street Journal reported that McMahon has agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.

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