He’s throwing in the towel.
Embattled WWE boss Vince McMahon announced Friday that he was stepping away from World Wrestling Entertainment Inc.
“At 77, time for me to retire,” McMahon tweeted. “Thank you, WWE Universe. Then. Now. Forever. Together.”
He ended his resignation with a hashtag stating he was “thankful.”
McMahon announced in June that he would “voluntarily” step down as WWE’s CEO while a misconduct investigation involving allegations against him was being conducted. That coincided with reports claiming he had made hush-money payments to women with whom he allegedly had sexual relations. According to the Wall Street Journal, those payments date back to 2006 and total at least $12 million.
WWE’s website describes its “top dog” as a man who “built his empire ruthlessly and efficiently, dispatching all who stand in the way of his entertainment sovereignty.”
Now with McMahon out of the way, his daughter, Stephanie McMahon, will serve as co-CEO wit Nick Khan.
Stephanie is married to Paul Levesque, better known as “Triple H” from his wrestling days. WWE announced Friday he will be returning to his prior position as head of talent relations.
“I’m healthy, fired up, and ready to take charge,” said Levesque.
On his way out of the door, Vince McMahon thanked wrestling fans in a statement on the WWE website Friday.
“Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you,” he said. “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.”
McMahon has effectively run WWE since 1982, essentially taking over for his father. The company’s reported revenues for 2021 exceeded $1 billion.
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