Vince McMahon, the chief executive officer of World Wrestling Entertainment, resigned from his position on Friday after the company was accused of misconduct.
According to a statement released by the company, McMahon, who is also the chairman, will continue to oversee the company’s creative content.
The special committee of the board of directors of the company named former CEO and interim chairperson of the organization, Ms. Stephanie Mcmahon, as its interim leader.
In a statement, Vince said that he would do everything in his power to support the investigation.
The announcement about the investigation came after a Wall Street Journal report revealed that he paid a former employee $3 million to keep quiet about an affair that he allegedly had with her.
The investigation also looked into the arrangements made with John Laurinaitis, a former professional wrestling player who is now the company’s talent relations manager.
The board of directors of World Wrestling Entertainment said that it has engaged an independent legal firm to assist in the investigation. It also plans to conduct a review of the company’s culture and compliance program.
