Vince McMahon, the CEO and Chairman of World Wrestling Entertainment, is taking a break from his duties as the company investigates an allegation of improper conduct by an executive.
Two days after The Wall Street Journal reported that the board was looking into McMahon for paying a former employee $3 million to keep her quiet about an alleged affair between the two of them, the special board committee probe was announced.
According to the report, the probe found that there were previous nondisclosure agreements with former female employees of the company who claimed to have been mistreated by McMahon.
McMahon said in a press release that he would do everything he could to support the investigation. I have promised to accept the findings of the investigation.
According to the release, McMahon will remain involved in the company.
McMahon will give up his position as CEO and chairwoman to his daughter. In May, McMahon said that she was pulling back from most of her duties in order to be with her family.
It's important to me that we have a safe and collaborative workplace and that's why I'm committed to working with the Independent Directors. I will do 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 and implementation of its findings.
The announcement didn't say if the head of talent relations would step away from his duties. A request for further comment was not immediately responded to by the World Wrestling Entertainment.
Linda McMahon, Vince McMahon's wife, was the head of the Small Business Administration under President Donald Trump.
McMahon is the controlling shareholder of the company because he has acted out wrestling drama storylines in front of the camera. He bought the company from his father 40 years ago and has orchestrated its growth into a global brand.
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