Vince McMahon steps down as WWE CEO amid investigations into alleged misconduct-Sports News , Firstpost

File image of Vince McMahon. AP

Vince McMahon has decided to voluntarily step back from his post as the WWE CEO, with the Wrestling company’s Special Committee of the board conducts an investigation into an alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis.

Vince McMahon’s daughter Stephane has been appointed the interim CEO and Chairwoman.

“McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” WWE said via a statement.

WWE added in its statement that it would take the misconduct allegations seriously.

“WWE and its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review. In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture,” WWE added in its statement.

“The Company and the Board do not expect to have further comment until the investigation is concluded.”

“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” Vince McMahon said in the statement.

“I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings,” said Stephanie.