Vince McMahon Confirms His Retirement From WWE, Names Successors
Vince McMahon, WWE Chairman and CEO, announced that he is retiring from the WWE. after leading the company since 1982 when he bought it from his father. McMahon has been in the headlines for the past month with sexual misconduct allegations against him and stepped down as CEO in June.
“At 77 time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together.”Vince McMahon via Twitter
The investigation into the sexual misconduct allegations against McMahon unearthed payments of over $12 million dollars to former employees. One includes a $7.5 million pact paid to a former wrestler who alleged Mr. McMahon coerced her into performing sexual acts and then demoted her, and ultimately declined to renew her contract in 2005 after she resisted further sexual encounters.
In McMahon’s press release, he announced that Stephanie McMahon and Nick Khan would be co-CEOs. When Stephanie McMahon took over as CEO and chairwomen, Vince still remained in creative control. Per Fightful Select, they have confirmed with WWE that Vince is officially retired from all roles in the company. Fightful Select also reported that the decision to make Stephanie and Nick co-CEOs was made last week. There was reportedly an “all hands on deck meeting” scheduled at 5:00 pm EST, which was just a quick goodbye to those that could attend. The retirement came as a shock to most since many WWE talent were told that “Vince was here to stay” and he “wasn’t going anywhere” in a meeting last week.
Brock Lesnar Walks Out of Smackdown
There were also immediate rumors that WWE Superstar, Brock Lesnar was “very pissed off” about Vince McMahon retiring so he left WWE Smackdown. Lesnar is set to face Undisputed WWE Universal Champion, Roman Reigns at SummerSlam next weekend. With Brock walking out of Smackdown, his future has to be uncertain.