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Vince McMahon announced that he is retiring from WWE today on Twitter and has since released a statement on the promotion's website.
McMahon stepped back from his position as WWE CEO last month. Before this, The Wall Street Journal released a story about alleged settlements paid to a former female employee. Stephanie McMahon has since been named the Interim CEO of WWE.
The Wall Street Journal has since published another article detailing how Mr. McMahon gave several former female employees upwards of $12 million in non-disclosure agreements. More allegations are reportedly on the way as well.
After his retirement post on Twitter, WWE released a statement from the 76-year-old. Vince McMahon claimed that it was time for him to step away and thanked the fans for allowing WWE into their homes every week:
"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."
It should also be noted that Triple H was named the Executive VP of Talent earlier today. You can read more about it here.
Vince McMahon confident in the continued success of the WWE
Vince McMahon added in his statement that the promotion will have continued success with Stephanie McMahon and Nick Khan serving as co-CEOs. Vince noted that he remains the majority shareholder of WWE and will help in any way that he can:
“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.”
The NXT Women's Champion broke character to react to the news of Vince McMahon's retirement. You can check that out here.
Do you think WWE is in better hands now that Vince McMahon has retired? Share your thoughts in the comment section below.
