Vince McMahon has announced that he is officially retiring from the WWE at the age of 77.
In the wake of a misconduct probe, Vince McMahon has decided it is time to step back from the WWE. The 77-year-old CEO made the announcement on Friday via Twitter, saying:
At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together.
— Vince McMahon (@VinceMcMahon) July 22, 2022
In a follow-up statement, the former CEO said, “As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”
McMahon’s daughter Stephanie McMahon is serving as chairwoman and co-CEO, and WWE president Nick Khan will also become co-CEO. Vince will step away also as Creative Director, bringing an end to his in-ring character of “Mr. McMahon.” H will, however, remain the company’s top shareholder.
McMahon had recently stepped back from his duties following allegations of misconduct with female employees within the company. In addition to sexual relations with him, he also reportedly paid them millions of dollars to keep the information private.
No official word has been shared about what the investigation into the claims had discovered.