New York (Reuters)-WWE said on Friday (June 17th) that long-time CEO Vince McMahon had begun investigating illegal activities and appointed his daughter Stephanie as interim chief.
McMahon has voluntarily resigned from his responsibilities as CEO and chairman until the review is complete, the company said.
The Wall Street Journal is investigating a US $ 3 million (S $ 4.2 million) settlement on Wednesday (June 15) that McMahon has agreed to pay to retired employees who allegedly had a relationship. Reported.
WWE said on Friday that the board had hired an outside legal counsel to support independent reviews, adding that it would also conduct a comprehensive review of the company’s compliance program, talent functions, and overall culture.
The company, which produces and distributes the weekly wrestling shows Raw and Smackdown, said McMahon, 76, will remain responsible for creative content during this period.
The journal reports that the Board’s investigation, which began in April, is another old secret, including claims by a former female WWE employee of fraud by McMahon and John Laurinaitis, head of Talent Relations. I found a non-disclosure agreement.
The board’s investigation included Mr. Laurinatis, the company said.
Stephanie McMahon, often touted as his father’s successor, took a vacation last month to focus on his family.
