WWE Boss Vince McMahon Stepping Aside During Board Committee Probes Of Alleged Misconduct
McMahon “will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” according to a press release this morning.
McMahon is the majority shareholder of the publicly traded company’s Class B shares, which grants him decisive voting power. Various members of his family also sit on on the board of directors. The board started looking into the matter in April, the WSJ report says. The employee who received the $3 million settlement reportedly had a consensual relationship with McMahon, who used personal funds for the payoff. That investigation, however, revealed several older nondisclosure agreements involving claims by former female WWE employees against McMahon and Laurinaitis.
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