Longtime WWE chairman and CEO Vince McMahon announced his retirement on Friday.
McMahon released the following statement:
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.
McMahon’s announcement comes weeks after the Wall Street Journal reported that he agreed to pay $12 million in hush money over the past 16 years to suppress allegations of sexual misconduct and infidelity with four separate women.
McMahon says his daughter, Stephanie, will serve as co-CEO with Nick Khan”
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”
What’s not clear is what happens with booking. Vince McMahon’s fingers are all over each outcome and match finish in the WWE. One name to watch is Paul “Triple H” Levesque, Stephanie’s husband.
There was once a time, when Levesque ran the NXT brand, that wrestling insiders believed McMahon was grooming Levesque as his successor. The company had since moved on from Levesque but suspiciously announced his return as EVP of Talent Relations today, before the news about McMahon
WWE without Vince McMahon hardly sounds real.