As per WWE’s corporate website, the company have confirmed that Stephanie McMahon will replace her father as interim CEO and Chairwoman of WWE. This huge shift in power has been mostly due to the damning allegations against both Vince and John Laurinaitis, who were both guilty of serious misconduct towards WWE employees.
WWE released the following on the matter:
Stamford, Conn. – 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.
Vince himself has since commented on the situation, stating:
“I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are”
Tonight’s SmackDown Live is said to be ‘business as usual’ with Vince still remaining tied to the creative side of WWE’s programming. It has also been confirmed that Vince McMahon will be appearing as part of tonight’s show, presumably to address this sensational news. However, with this massive change to WWE’s internal hierarchy, who knows what this might mean for the company going forward.
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