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Vince McMahon he was the CEO and Chairman of the Board at the company World Wrestling Entertainment (WWE) decades before he “voluntarily” stepped down.
McMahon confirmed this in June 2022 resigned from his post while the company investigated complaints of misconduct against him.
“I have pledged my full cooperation in the investigation by the Special Committee and will do my best to support the investigation,” he said in a statement at the time. “I am also committed to accepting the findings and results of the investigation, whatever they may be.”
A few hours later, McMahon he opened SmackDown Live with great fanfare. “It’s a privilege as always to stand before you tonight, the WWE Universe,” he said during the broadcast on June 17, 2022. “I’m here to remind you of the four words that we just saw in what we call our WWE signature. These four words are: then, now, forever, and the most important word is together. Welcome to SmackDown!”
Amid McMahon’s departure from the WWE executive suite, federal law enforcement officials continued investigation of allegations. The former professional athlete has not yet been charged with a crime.
Almost two years later, McMahon faced a second bad scandal when a former WWE employee accused him of sexual assault, human trafficking and abuse in a January 2024 lawsuit. He denied all allegations before leaving WWE’s parent company, TKO Group.
Read on for a breakdown of McMahon’s misconduct scandal:
Days before McMahon stepped down from his position in WWE The Wall Street Journal announced that it had paid a former employee a $3 million settlement following the alleged affair. He has not publicly commented on the allegations.
As of January 2024, a former WWE employee Janel Grant accused McMahon of sexual assault, human trafficking and abuse of process.
McMahon left his position as CEO and chairman in June 2022, pledging in a statement to cooperate with the ongoing investigation and “accept the findings and outcome”. He eventually returned as a board member six months later in January 2023, agreeing to reimburse WWE for all expenses related to the investigation. According to art SEC statement the following August, McMahon has since paid approximately $17.4 million to cover expenses.
As for the 2024 lawsuit, McMahon has vehemently denied all claims.
“This lawsuit is full of lies, obscene fabrications that never happened, and vindictive distortions of the truth. He will defend himself vigorously,” McMahon’s spokesman said My Weekly in the statement.
McMahon’s daughter, Stephanie McMahonshe was appointed interim CEO and chairman in her father’s absence.
“I love this company and am committed to working with independent directors to strengthen our culture and our company; it is extremely important to me that we have safe and collaborative workplaceStephanie said in a statement at the time. “I am committed to doing everything in my power to help the special committee complete its work, including rallying the cooperation of the entire company to help complete the investigation and implement its findings.”
Chief Creative Officer Triple H (real name Paul Levesque), who is married to Stephanierevealed during August 2023 press conference for WWE Summer Slam that Vince is not currently working with the WWE creative team.
“In terms of contributions, I would just say this. The reason why WWE is the way it is … you can make an argument — a very valid one — that without Vince and his vision for this business, maybe it wouldn’t be here,” Triple H said at the time. “At that time, at that time, there were some things, which were very popular… which simply disappeared off the face of the planet.” The vision of what he did changed the business, it changed everything for 50 years. An incredible achievement. No greater mind in business.’
He continued, “If we all didn’t look to him every now and then for advice on thoughts or ideas or if we had a question to go to him and ask, we’d be stupid, . It’s sitting next to someone who knows more about it, or has forgotten more about it than you’ll ever know, and not taking advantage of it in some way. But is it overnight? No. Is he still in it? No. If one does, one has earned that right to do so.”
Vince formally resigned from the position of executive chairman of TKO Group, which is the parent company of WWE, in January 2024.
“Out of respect for the WWE Universe, the extraordinary business of TKO and its members and shareholders, partners and constituents, and all the employees and Superstars who have helped make WWE the global leader it is today, I have decided to resign my position as Executive Chairman and the Board of Directors of TKO, effective immediately. validity,” he said in a statement shared with Our. “I stand by my previous statement that Ms. Grant’s lawsuit is full of lies, obscene fabrications that never happened, and is a vindictive distortion of the truth.” I intend to vigorously defend myself against these baseless allegations and look forward to clearing my name.”
Days before Triple H’s comments about Vince’s lack of day-to-day involvement with the media brand, SEC executed a search warrant and issued a subpoena both for Vince and WWE. According to CNNUS federal agents requested copies of certain documents. Vince did not address the court order or the subpoena.
In January 2024, McMahon he agreed to pay a $400,000 civil penalty and also reimburse WWE $1.3 million. McMahon was not forced to admit or deny the SEC’s findings.
McMahon issued a statement through X shortly after the settlement was announced.
“Case closed,” McMahon wrote. “Today marks the end of nearly three years of investigations by various government agencies. There has been much speculation about exactly what the government was investigating and what the outcome would be. As today’s resolution shows, much of that speculation has been misguided and misguided.”
He continued: “At the end of the day, it was never more than minor accounting errors with regard to some personal payments I made a few years ago when I was WWE CEO. I’m excited to put it all behind me now.”
However, McMahon’s statement is a bit of a misnomer, as Grant’s civil suit will still be moving after the settlement.
If you or someone you know has been sexually assaulted, get in touch National Sexual Assault Hotline at 1-800-656-HOPE (4673).