Vince McMahon has officially retired as WWE CEO.
WWE has announced that Vince McMahon has officially stepped down as Chairman and CEO of WWE at the age of 77. Moving forward, Stephanie McMahon and Nick Khan will be Co-CEOs of WWE.
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 30 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India, and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.
Additional information on WWE can be found at wwe.com and corporate.wwe.com.
Vince put out the following message on social media:
On June 15, the Wall Street Journal reported the WWE board was investigating a secret $3 million settlement that Vince McMahon reportedly agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.
On June 17, McMahon voluntarily stepped back as WWE CEO with Stephanie McMahon being named as the Interim CEO. Vince has appeared on WWE SmackDown and Raw programming multiple times since the initial Wall Street Journal report was published.
McMahon founded Titan Sports in 1979, becoming the chairman of the company. He purchased the WWF from his father in 1982. The company would quickly split for the NWA with McMahon growing the promotion beyond a regional capacity. McMahon would secure pay-per-view and television deals throughout the years and take the company public in 1999.
Along with being the CEO of the company, McMahon served as an announcer on television before his role as CEO and owner was acknowledged, leading to the Mr. McMahon character. He would be a staple on television in the late 90s and 2000s as the authority figure and a wrestler.
In an interview with Pat McAfee in March, McMahon said he didn't think much about a WWE future without him. You can find his full comments by clicking here.
Nick Khan was named President of WWE in August 2020. Stephanie McMahon was named Chief Brand Officer of the company in December 2013 before being named Interim CEO.
Fightful will continue to update fans on Vince's decision and the fallout as more is known.