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Vince McMahon stood down after greater than 4 many years in control of the WWE final month amid allegations of sexual misconduct, now the 76-year-old has determined it is time to retire; his daughter Stephanie McMahon takes over as Co-CEO on a full-time foundation together with Nick Khan

Vince McMahon and spouse Linda McMahon based the corporate now often called WWE again in 1980

Vince McMahon has introduced his rapid retirement after greater than 4 many years in control of the corporate now often called WWE.

The 76-year-old stepped again final month from his function as CEO and chair of WWE amid allegations that he’d paid hundreds of thousands of {dollars} to varied girls in trade for silence over relationships and misconduct.

WWE’s board of administrators launched a particular committee to probe the alleged misconduct by Vince McMahon and head of expertise relations John Laurinaitis.

Vince’s daughter Stephanie McMahon stepped in to function interim CEO and interim chair after he stepped again and can now take over on a full-time foundation alongside Co-CEO Nick Khan.

He launched an announcement saying: “As I strategy 77 years outdated, I really feel it is time for me to retire as Chairman and CEO of WWE. All through the years, it has been a privilege to assist WWE convey you pleasure, encourage you, thrill you, shock you, and all the time entertain you. I want to thank my household for mightily contributing to our success, and I might additionally wish to thank all of our previous and current Superstars and workers for his or her dedication and fervour for our model.

“Most significantly, I want to thank our followers for permitting us into your houses each week and being your alternative of leisure. I maintain the deepest appreciation and admiration for our generations of followers all around the world who’ve favored, at present like, and typically even love our type of Sports activities Leisure.

“Our international viewers can take consolation in figuring out WWE will proceed to entertain you with the identical fervour, dedication, and fervour as all the time. I’m extraordinarily assured within the continued success of WWE, and I go away our firm within the succesful arms of a unprecedented group of Superstars, workers, and executives – particularly, each Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.

“As the bulk shareholder, I’ll proceed to assist WWE in any approach I can. My private because of our neighborhood and enterprise companions, shareholders, and Board of Administrators for his or her steerage and assist via the years. Then. Now. Ceaselessly. Collectively.”

Vince McMahon and spouse Linda McMahon based the corporate now often called WWE again in 1980 and turned it into a worldwide media empire.

It is going to now proceed within the arms of their daughter and Khan because the investigation into the alleged misconduct continues.