Vince McMahon was the executive director and chairman of the board World Wrestling Entertainment (WWE) decades before “voluntarily” stepping down.
McMahon confirmed this in June 2022 he resigned while the company investigated claims of wrongdoing against him.
“I am committed to fully cooperating with the Special Committee's investigation, and I will do everything in my power to support the investigation,” he said in a statement. “I am also committed to accepting the findings and results of the investigation, whatever they may be.”
A few hours later, McMahon open SmackDown Live with great flourish. “It's a privilege, as always, to stand before you tonight, the WWE Universe,” he said on the June 17, 2022, show. “I'm here to remind you of the four words we just saw in our WWE signature. These four words are: then, now, forever, and the most important word is together. Welcome SmackDown!”
While McMahon is stepping down as a WWE executive, federal law enforcement officials have moved on investigating the allegations. The former professional athlete has not yet been charged with a crime.
Almost two years later, McMahon faced a second misconduct scandal when the former WWE employee accused him In a January 2024 lawsuit alleging sexual assault, human trafficking, and violence. He denied all claims before resigning from WWE's parent company, the TKO Group.
Read on to learn more about McMahon's misconduct scandal:
What was Vince McMahon accused of?
A few days before, McMahon resigned from WWE The Wall Street Journal reported that it paid a former employee $3 million after the alleged affair. He has not publicly addressed the allegations.
As of January 2024, a former WWE employee Janelle Grant accused McMahon of sexual assault, human trafficking and abuse in a lawsuit.
How did Vince McMahon react to the scandal?
McMahon stepped down as CEO and chairman in June 2022, pledging to cooperate with the ongoing investigation and “accept the findings and results” in a statement. Six months later, in January 2023, he returned as a board member, agreeing to reimburse WWE for all expenses related to the investigation. According to an SEC As of August, McMahon has paid approximately $17.4 million to cover costs.
Regarding the 2024 lawsuit, McMahon vehemently denied all claims.
“This lawsuit is full of lies, obscene fabrications that never happened, and vindictive distortions of the truth. He will vigorously defend himself,” McMahon's spokesman said Us Weekly in the announcement.
Who replaced Vince McMahon as WWE CEO?
McMahon's daughter Stephanie McMahonwas appointed interim CEO and chairman in her father's absence.
“I love this company and am committed to working with the independent directors to strengthen our culture and company; it is extremely important to me that we have it a safe and collaborative workplace“Stephanie said in a statement at the time. 'I am committed to doing everything in my power to help the Special Committee complete its work, including encouraging the cooperation of the entire company to help complete the investigation and implement its findings.'
Is Vince McMahon still involved in WWE?
Chief Creative Officer Triple H (real name Paul Levesque), who is married to Stephanierevealed in August 2023 press conference for WWE Summer Slam that Vince is not currently working with the WWE creative team.
“As far as contributions go, I would just say this. The reason why WWE is the way it is…you could make the argument — very validly — that without Vince and his vision for the business, it probably wouldn't be here,” Triple H said at the time. “There were some things at the time , which were very popular… which just disappeared off the face of the planet. The vision of what he did changed the business, changed it all for 50 years. Incredible success. There is no greater mind in business. “
He continued, “At this point, if we all didn't look to him in time for advice on thoughts or ideas, or if we had a question to turn to him and ask, we'd be foolish not to. . It's sitting next to someone who knows more about it than you ever do. But is he in it all the time? No earned the right to do so.
Vince formally resigned In January 2024, from the position of executive chairman of the TKO Group, the parent company of WWE.
“Out of respect for the WWE Universe, the extraordinary business of CMOs and its board members and shareholders, partners and voters, as well as all the employees and Superstars who have helped make WWE the world leader it is today, I have decided to step down. executive chairman and CMO board of directors, effective immediately,” he said in a statement We. “I stand by my previous statement that Ms. Grant's lawsuit is full of lies, obscene fabrications that never happened, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless allegations and look forward to clearing my name.
Has Vince McMahon been cooperating with the federal investigation?
Several days before Triple H's comments about Vince's lack of day-to-day involvement in the SEC media brand executed a search warrant and issued a subpoena both Vince and WWE. According to CNNUS federal agents requested copies of certain documents. Vince has not addressed the warrant or subpoena.
How were Hush Money payments made?
In January 2024, McMahon agreed to pay a $400,000 civil penalty while also restitution of $1.3 million to WWE. McMahon was not forced to admit or deny the SEC's findings.
McMahon released a statement through X shortly after the settlement was announced.
“Case closed,” McMahon wrote. “Today concludes a nearly three-year investigation by various government agencies. There has been much speculation about what exactly the government is investigating and what the outcome will be. As today's resolution shows, much of that speculation was false and misleading.
He continued: “At the end of the day, this was nothing more than a minor accounting error regarding some personal payments I made several years ago when I was CEO of WWE. I'm thrilled to be able to put this behind me now.
McMahon's statement is a bit of a misnomer, however, as Grant's civil suit will still move forward after the settlement.
If you or someone you know has been sexually assaulted, contact National Sexual Abuse Helpline at 1-800-656-HOPE (4673).
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