WWE CEO McMahon steps down as board investigates alleged misconduct

17/6/2022 3:46:00 PM

WWE CEO McMahon steps down as board investigates alleged misconduct

https://str.sg/wuArNEW YORK (REUTERS) - WWE said on Friday (June 17) it launched an investigation into alleged misconduct by longtime chief executive Vince McMahon and appointed his daughter Stephanie as interim head.Mr McMahon has voluntarily stepped back from his responsibilities as CEO and chairman until the review is over, the company said.

The board is investigating a US$3 million (S$4.2 million) settlement that Mr McMahon agreed to pay to a departing employee with whom he allegedly had an affair, the Wall Street Journal reported on Wednesday (June 15).WWE said on Friday the board had engaged an external legal counsel to assist with an independent review, adding it will also conduct a comprehensive review of the company's compliance programme, human resources function and overall culture.

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Copy to clipboard https://str.announcing a leave of absence as WWE’s chief brand officer to “focus on my family.LinkedIn MARANELLO, Italy : Ferrari is on track to return to Le Mans 24 Hours next year, its Chief Executive Benedetto Vigna said on Thursday, in what would be the sports carmaker's first bid for overall victory in 50 years.LinkedIn British technology company Halma reported a 20 per cent jump in annual profit on Thursday and said its chief executive officer Andrew Williams would retire next year after 18 years at the helm.

sg/wuAr NEW YORK (REUTERS) - WWE said on Friday (June 17) it launched an investigation into alleged misconduct by longtime chief executive Vince McMahon and appointed his daughter Stephanie as interim head. Mr McMahon has voluntarily stepped back from his responsibilities as CEO and chairman until the review is over, the company said. The board also is investigating alleged misconduct by John Laurinaitis, WWE’s head of talent relations. The board is investigating a US$3 million (S$4. "This represents another chance for us to compete at the highest levels, pushing the technological boundaries on the track to then transfer these to the next generation of Ferrari cars" he added.2 million) settlement that Mr McMahon agreed to pay to a departing employee with whom he allegedly had an affair, the Wall Street Journal reported on Wednesday (June 15). I have also pledged to accept the findings and outcome of the investigation, whatever they are. WWE said on Friday the board had engaged an external legal counsel to assist with an independent review, adding it will also conduct a comprehensive review of the company's compliance programme, human resources function and overall culture. Halma also said it expected to maintain high returns in the 2022-23 financial year and a return on sales similar to the second half of the 2021-22 financial year.

The company, which produces and distributes weekly wrestling shows Raw and Smackdown, said Mr McMahon, 76, will retain his creative content responsibilities during this period. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings. The board's investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr McMahon and the head of talent relations, Mr John Laurinaitis, according to the Journal's report. The probe by the board includes Mr Laurinaitis, the company said. “The independent directors of the board engaged independent legal counsel to assist them with an independent review. Ms Stephanie McMahon, who has been often touted as her father's successor, took a leave of absence last month to focus on her family. More On This Topic .” The company said it does not expect to have further comment until the investigation is concluded.