WWE CEO McMahon steps down as board investigates alleged misconduct

17/6/2022 4:24:00 PM

WWE CEO McMahon steps down as board investigates alleged misconduct

WWE CEO McMahon steps down as board investigates alleged misconduct

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...

EngagementsNEW 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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