Vince McMahon has stepped down from his role as CEO and Chairmen of World Wrestling Entertainment after allegations of misconduct.
Earlier this week, the Wall Street Journal reported that McMahon offered a former female employee he had an affair with $3 million as hush money.
Reports say other payments and legal agreements with other women were uncovered.
The 76-year-old, longtime boss of the WWE voluntarily stepped down from his duties as the board launched an investigation into those allegations. An independent review is underway.
Allegations have also been made against WWE executive John Laurinaitis.
In a statement, McMahon said
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are.
He retains his role and responsibilities related to WWE’s creative content.
Meanwhile, his daughter, Stephanie McMahon, has been named interim CEO and chairwoman.
Until recently, she served as the company's chief brand officer but temporarily stepped down from that role last month.
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