The WWE is investigating claims of misconduct by CEO Vince McMahon. While that probe is ongoing, McMahon will “step back” from leading the company. A committee inside the company’s board of directors has appointed Stephanie McMahon as interim CEO and chairwoman.
Joe Palazzolo of The Wall Street Journal reports that the board is investigating a $3 million payment that was allegedly made to cover up a consensual affair between McMahon and an employee. John Laurinaitis, head of talent relations for WWE, is also part of the investigation.
A statement from WWE says that Vince McMahon will stay involved with “creative content during this period and remains committed to cooperating with the review underway.”
No information is available regarding how this will affect WWE’s entertainment products. In addition to the weekly live shows, the company is also has scripted series in development as part of a content distribution deal with NBCUniversal and Peacock. McMahon was involved in developing a drama series for the platform alongside FOX Sports reporter Tom Rinaldi.
