World Wrestling Entertainment impresario Vince McMahon announced Friday he is retiring amid an investigation into alleged misconduct involving the flamboyant showman who turned a small wrestling company into a worldwide entertainment business.
In a brief statement issued by the company on Friday, McMahon said he is retiring as WWE's chairman and CEO. He noted that he remains its majority shareholder.
McMahon stepped down temporarily as CEO and chairman of WWE in mid-June during an investigation into alleged misconduct. Earlier this month, the Wall Street Journal reported that McMahon agreed to pay more than $12 million US over the past 16 years to suppress allegations of sexual misconduct and infidelity. "At 77, time for me to retire.
Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful," he wrote on Twitter. There was no mention of the investigation in the statement from the Stamford, Conn.-based company.