McMahon’s daughter, Stephanie, will serve as interim CEO and chairwoman.
is stepping down as CEO and chairman of WWE during an an investigation into alleged misconduct involving the longtime leader and public face of the organization.
The Wall Street Journal reported Wednesday that WWE was investigating an alleged $3 million settlement that McMahon paid to a departing female employee following a consensual affair. The employee, hired as a paralegal in 2019, has a separation agreement from January that prevents her from discussing her relationship with McMahon or disparaging him, the Journal reported.
Aside from the investigation into the alleged misconduct by McMahon and Laurinaitis, WWE said that the company and its special committee will work with an independent third-party to perform a comprehensive review of the work environment at the organization.FILE - The logo for World Wrestling Entertainment, Inc., WWE, appears above a trading post on the floor of the New York Stock Exchange, Tuesday, Feb. 18, 2020.
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