World Wrestling Entertainment CEO Vince McMahon resigned from his position on Friday. The company reports this on its website.
He is chairman of the board, director and has had creative responsibility.
It is announced that his daughter Stephanie McMahon and Nick Khan will share the director position in the company.
Investigation
This comes after several accusations of conditions of millions of sums to women to keep quiet about adultery, inappropriate behavior and abuse. It reports, among other things CNN.
That led to an investigation by the WWE board, and McMahon took a break from the position since it began in June. Now he retires for good.
– As I approach the age of 77, I feel it is time for me to step down as chairman and CEO of WWE, McMahon tells the company’s website.
Hush money
Wall Street Journal was first to report that the company’s board was investigating McMahon for agreeing to pay $3 million to a former employee with whom he had allegedly cheated.
In the report came out in July, which provided evidence that McMahon paid more than $12 million to four women, including the same woman in the first case, to cover up “allegations of sexual harassment and infidelity.”
WWE is the world’s largest promoter of free wrestling, or wrestling. This is sports entertainment, and the matches are fixed in advance. The company produces two television programs each week, in addition to pay-per-view events.
The biggest event is Wrestlemania, which has millions of viewers every year.
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