WWE CEO and Chairman Vince McMahon “voluntarily resigned” from his roles at the company amid an investigation into the incident. Alleged romance and payout with a WWE employeeaccording to Wall Street Journal. Here’s everything we know about McMahon’s ongoing investigation.
What are the accusations?
McMahon is accused of having an affair with a former WWE paralegal and paying her $3 million as part of a January divorce settlement that also forbids her from discussing or humiliating her relationship with him. Wall Street Journal.
An internal investigation by a WWE select committee reportedly found that McMahon had signed similar non-disclosure agreements with other former female WWE employees, alleging misconduct by both McMahon and WWE head of talent relations John Laurinaitis. WSJreport.
WWE board members reportedly launched an investigation into McMahon in April after they learned of the CEO’s alleged misconduct from anonymous emails sent to the company by someone who claimed to be friends with a former WWE paralegal.
What does this mean for storylines?
According to joint press release of the WWE Board of Directors, McMahon will retain his “role and responsibilities” regarding creative storylines while he is under investigation.
And what does this mean for the company?
At this point, it’s unclear if McMahon will resume his duties as CEO or chairman. Currently, his daughter, Stephanie McMahon, will serve as acting CEO and chairman of the company. Perhaps she could take over if her father retired permanently.
Paul “Triple H” Levesque, Stephanie’s husband, a former WWE superstar and executive vice president of global strategy and talent development, could be brought in to run the company in place of Vince, although he could be hindered by his health. Back in September, Levesque suffered heart failure, due to which he left for the ring. ESPN. Wrestling Watcher Newsletter it was further reported that Levesque has since returned to work full-time at WWE offices, recruiting new wrestlers after recovering from health issues.
Shane McMahon, Vince’s son, is also a potential CEO given his previous experience booking wrestling programs with WWE and her “Monday Night Warscompetitor WCWalthough his chances are pretty low after he quit the company back in February after being paid to view by Royal Rumble, according to sports illustrations.
Fans and the media have speculated that the recent WWE incident mass release of wrestlers may signal a company’s plans to eventually sell itself. Although Nick Khan, President and Chief Financial Officer of WWE, denied the rumors. Khan said that WWE is “not actively negotiating” and not “actively seeking to sell”. Bleach Report.
Have you ever been sued or investigated against WWE before?
In 1994, Vince McMahon was charged with supply of illegal drugs to enhance performance U.S. Attorney for the Eastern District of New York. The jury found McMahon not guilty.
In 1999 Martha Hart, wife of the deceased Owen Hart, sued WWE (then called the World Wrestling Federation) in a wrongful death lawsuit after a wrestler fell to his death when his harness failed during his exit from the rafters to the ring at Over the Edge with pay for viewing. Ironically, the company decided to continue the event while Hart was evacuated from Camper arena to Truman Medical Center, where he died from blunt trauma and internal bleeding. In 2000, WWE paid Martha $18 million in compensation, which she used to set up The New York Times, a non-profit charity. Owen Hart Foundation.
In 2002, the UK Court of Appeal ruled in favor of the WWF, which sued what was then the World Wrestling Federation for violating a 1994 agreement with the organization that banned the wrestling company’s use of the WWF acronym logo. CNET. This decision led the company to change its name to World Wrestling Entertainment.