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Vince McMahon is stepping away from his roles as CEO and chairman of the WWE board of directors amid an investigation into alleged misconduct, the company announced Friday.
McMahon will be replaced by his daughter, Stephanie, on an interim basis while the investigation is ongoing. The company’s board formed a Special Committee to investigate McMahon and head of talent relations John Laurinaitis after both allegedly engaged in inappropriate behavior with a former employee.
McMahon will retain his role overseeing WWE’s creative direction during the probe. Laurinaitis will also remain in his role.
Joe Palazzolo and Ted Mann of the Wall Street Journal reported McMahon secretly agreed to pay a former employee $3 million in January. McMahon and the employee allegedly had an affair.
“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,” McMahon said.
This article will be updated soon to provide more information and analysis.
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