In a world of theatrics, where the line is blurred between real and fantasy, Vince McMahon was given a dose of reality. After his hands were allegedly caught in the cookie jar, Vince McMahon was ousted by his board from the chairman & CEO position at the most extensive wrestling operation in the world.
The charismatic WWE top dog is now the former boss after his alleged misconduct to cover up an extra-marital affair.
McMahon paid $3 million, confidentially, in a settlement to a former employee that he reportedly had an affair with. A separation agreement was allegedly made in January, stopping the unnamed ex-employee “from discussing her relationship with Mr. McMahon or disparaging him,” according to reports.
— Bleacher Report (@BleacherReport) June 17, 2022
The always verbose McMahon issued a statement.
“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” said McMahon. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
The company leadership will stay in the family as his daughter Stephanie McMahon will now serve as interim CEO and interim chairwoman, the organization said in a statement.
However, this might not be the only incident of misconduct by Vince.
An investigation that began in April has “unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon,” reportedly.
Additionally, John Laurinaitis, the company’s head of talent relations, also had misconduct claims reportedly found against him.
On Friday, the WWE was not playing and stated that it takes “all allegations of misconduct very seriously.” The organization has hired independent legal services to “conduct a comprehensive review of the company’s compliance program, human resources function and overall culture.”
Ironically, the board for WWE consists of executives who are not entirely unbiased. Many are members of McMahon’s family, including his daughter Stephanie McMahon and her husband, Paul Levesque, better known as wrestling star Triple H.
Vince McMahon still controls the majority of voting power for the WWE, and the investigation is far from a signal of the end for Vince McMahon.
— Wrestle Ops (@WrestleOps) June 17, 2022
New Storyline Flow?
While the investigation is ongoing, he will maintain his position within WWE’s creative content process and will still appear as a character during wrestling matches. Perhaps will wife will pop out and smash a chair over his head?
According to a company tweet, McMahon will also appear on the company’s “Smackdown,” the Friday night wrestling showcase.
McMahon’s brainchild is ubiquitous in wrestling, with many of his manufactured stars like Hulk Hogan, The Undertaker, and The Rock becoming pop culture icons.
Still The GOAT
During the pandemic, both McMahon and UFC president Dana White were some of the first to return to live action, with some significant precautions. The WWE’s shares have risen more than 30 percent year-t0-date during the current bear market as one of the rare companies not hard hit on the stock market.
McMahon’s undefeated persona took a hit for the first time, and now he is trying to avoid a professional three-count.