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WWE chief Vince McMahon to retire

Randy Mancini 4 Jul 22

(Reuters) – World Wrestling Entertainment Inc’s Vince McMahon said on Friday he will retire as the company’s chief executive and chairman, barely a month after stepping back from those roles due to an investigation into his alleged misconduct.

McMahon was being investigated by the board for a secret $3 million settlement that he had agreed to pay to a departing employee with whom he allegedly had an affair, the Wall Street Journal had previously reported.

A spokesperson for WWE declined to comment.

The company, which produces and distributes weekly wrestling shows “Raw” and “Smackdown”, had named his daughter Stephanie McMahon as the interim head.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra Eluri and Anil D’Silva)