Vince McMahon has now made a public comment about the investigations into allegation that have been made against him.
WWE just announced that Vince has stepped down from his role as CEO and Chairman for the time being, with his daughter Stephanie McMahon being his interim replacement.
It has been alleged that Vince came to an agreement to pay a “hush pact” of $3 million to an ex-employee he’s believed to have had an affair with which bars her from talking about their relationship.
You can read all the details and the full story at this link.
In the press release WWE sent out announcing Stephanie’s appointment as Interim CEO and Chairwoman, Vince was quoted as saying:
“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.”
The WWE board of directors, being led in this situation by Man Jit Singh, has hired the services of Simpson Thacher & Bartlett LLP to conduct the investigation.
There is also a second separate investigation ongoing from Scott+Scott Attorneys LLP stating the firm is “investigating whether certain directors and officers of World Wrestling Entertainment, Inc breached their fiduciary duties to WWE and its shareholders”.
You can read WWE’s full press release at this link, and keep up with any further updates on the story at this link.
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