WWE recently confirmed in a press release that Vince McMahon stepped down from the positions of Chairman and CEO. It was shortly announced that he would be making an appearance on tonight’s edition of SmackDown to address his absence. It comes after getting entailed in a controversial matter. The Wall Street Journal recently unveiled that WWE is investigating a secret $3 million settlement paid to a former employee of Mr. McMahon. The probe has also scooped several claims of misconduct from former employees toward The Chairman and top executive John Laurinaitis.
It is not known which member leaked the story. There are twelve people on the board. Dave Meltzer discussed the source of the leak on the latest Wrestling Observer Radio. Dave was not sure who might have released the information.
Vince McMahon will not step down for good
Reports have suggested that Vince will not be stepping down from his position from good. The former WWE Chief Brand Officer Stephanie McMahon will be taking up his duties. It seems Vince is temporarily stepping down to cooperate with the investigations and has no intentions of letting Stephanie be his permanent replacement.
Amid an ongoing investigation into the allegations, McMahon voluntarily gave up his position as Chairman and CEO. WWE issued a statement and noted that McMahon will continue to oversee the creative decisions until the conclusion of the investigation:
“WWE (NYSE: WWE) and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation. McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway,” stated WWE.
We will have to see what he has to say regarding the matter on SmackDown.