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Vince McMahon, who recently resigned as WWE CEO after a flood of allegations of fraud, has announced his retirement from WWE.
“As we approach the age of 77, we feel it’s time to resign as Chairman and Chief Executive Officer of WWE,” McMahon said in a statement.
“Over the years, we’re honored to help WWE bring you joy, inspiration, thrills, surprises, and always entertain you. Great for our success. We thank our families for their contributions and we would like to thank them. All our past and present superstars and employees are grateful for their dedication and passion for our brand.
“Most importantly, I would like to thank our fans for putting us in your home every week and your entertainment choice.”
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In the statement McMahon has his daughterStephanie will take over as co-CEO with current WWE President Nick Khan.
“Our audience around the world can rest assured that WWE will continue to entertain you with the same enthusiasm, dedication and passion as usual,” the statement continued. “I am very confident of WWE’s continued success and have been in the talented hands of an extraordinary group of superstars, employees and executives, especially Chairman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. I leave the company to you.
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“As a majority shareholder, I will support WWE as much as I can. I personally thank the community, business partners, shareholders and the board for their long-standing guidance and support. Then, now and forever. Together. . “”
McMahon’s retirement follows the July Wall Street Journal report. McMahon paid over $ 12 million To “control sexual misconduct and allegations of infidelity” in the last 16 years.
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McMahon bought the company from his father In 1982 it turned it into today’s $ 1 billion brand.
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