Vince McMahon Steps Down From W.W.E. Amid Misconduct Investigation

“I’m here simply to remind you of the four words we just saw,” Mr. McMahon told the crowd, referring to the W.W.E. signature at the beginning of the broadcast. “Those four words are ‘then, now, forever,’ and the most important word is ‘together.’ Welcome to SmackDown.”

Mr. McMahon then dropped a microphone and stepped out of the ring, high-fiving fans as he left.

On Wednesday, The Wall Street Journal reported that Mr. McMahon agreed to pay a secret $3 million settlement to an employee with whom he was said to have had an affair, and that the board had been investigating since April. The investigation unearthed other nondisclosure agreements involving claims of misconduct by Mr. McMahon, The Journal reported.

A lawyer for Mr. McMahon told The Journal that the employee had not made any claims of harassment against Mr. McMahon and that he used personal funds to pay the settlement.

Far from an anonymous executive, Mr. McMahon is among the most recognizable faces of professional wrestling, adopting a swagger-filled public persona who is often at the center of the on-screen action. Since taking over his father’s wrestling company in 1982, Mr. McMahon has presided over its ascent into a cultural giant, with more than $1 billion in revenue in 2021. W.W.E’s programs are aired in 30 languages and are distributed through NBCUniversal and Fox Sports, among others.

Article source: https://www.nytimes.com/2022/06/17/business/vince-mcmahon-wwe-resign.html