The WWE has ended its £18million probe into alleged misconduct against former CEO Vince McMahon. The 77-year-old retired earlier this summer after 40 years after purchasing from his father, Vincent J. McMahon, in 1982.
McMahon's daughter, Stephanie and Nick Khan took over as co-CEO's with son-in-law Paul Levesque [wrestling name Triple H] taking over day-to-day duties as chief content officer.
Earlier this summer it was alleged by The Wall Street Journal that McMahon had paid out more than $20m (£17.9m) to a number of women who had been affiliated with the company over claims of misconduct. The WWE had announced that they would investigate the matter of the allegations as McMahon had stepped down and retired just days later. Now, however, that investigation has come to a close.
A statement from the WWE read: "The Special Committee investigation is now complete and the Special Committee has been disbanded. Management is working with the Board of Directors to implement the recommendations of the Special Committee related to the investigation."
McMahon remains the biggest shareholder in WWE and can 'effectively exercise control over our affairs', the company also confirmed. The payments were reportedly paid to settle sexual misconduct allegations from four women against McMahon over the past 16 years.
After his retirement, McMahon said: "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."
