Vince McMahon retires from WWE

Vince McMahon retires from WWE amid sexual misconduct inquiry. The World Wrestling Entertainment impresario Vince McMahon has said.

Born on August 24, 1945, in Pinehurst, North Carolina. Vince McMahon is the creator of modern wrestling.

Early in his WWF career, Vince was the ring announcer, and then later, he replaced Ray Morgan in 1971 and became a commentator, a role he held until November 1979.

Throughout the 1970s, McMahon became a prominent force in his father’s company and insisted on renaming the company from the World Wide Wrestling Federation (WWWF) to the World Wrestling Federation (WWF).

In 1979, the WWWF became the WWF, and Vince purchased the Cape Cod Coliseum, which hosted ice hockey and professional wrestling events. In 1980, he incorporated Titan Sports, Inc.

Against the wishes expressed by his father, McMahon began a process of national expansion that would fundamentally change the business.

 In 1983, Vince already had complete control and ownership over the WWF and his future direction, buying everything related to the former partners.

Retirement Vince McMahon

Amid an investigation into multiple allegations of sexual misconduct, professional wrestling giant Vince McMahon is leaving the ring for good.

McMahon shocked the world on Friday afternoon when he announced his retirement from WWE on Twitter. According to PW Insider, the decision was made privately “about a week ago.”

“As I approach the age of 77, I feel it is time to retire as Chairman and CEO of WWE,” McMahon said in a corporate statement.

McMahon indicated that he will remain the majority shareholder in WWE. His daughter, Stephanie, and chief revenue officer Nick Khan will act as joint CEOs.

“Our global audience can take comfort in the knowledge that WWE will continue to entertain them with the same zeal, dedication, and passion as always.

 I have great confidence in WWE’s continued success, and I leave our company in the hands of an extraordinary group of Superstars, employees, and executives.” McMahon declared.

The Wall Street Journal recently reported that McMahon allegedly paid money to hush up a former WWE paralegal over an affair.

 A later report said that McMahon agreed to pay “more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.”

McMahon did not address the allegations in his announcement.

The WWE Board of Directors, which includes Stephanie McMahon; her husband, Paul HHH Levesque; and Khan, hired the New York law firm Simpson Thacher & Bartlett LLP to investigate the allegations.

Vince McMahon recently stepped down as CEO of the company but continued to maintain creative control of WWE.

Triple H will assume the role of creative director of WWE before the departure of Vince McMahon from power.

The announcement was made this Monday by WWE itself and indicates that Triple H will assume the direction in addition to the functions that he already maintained as an executive in charge of talent in training.

“WWE Executive Paul Levesque will assume all responsibilities related to WWE creativity, in addition to his regular duties,” the official statement read.

Triple H is already the current Executive Vice President of Talent Relations, a position he had assumed long before Vince McMahon announced his retirement.

As part of his role, the former wrestler was the leader of the NXT brand during its so-called “golden age”, bringing great characters from the independent industry to WWE.

Through the establishment of the Wrestlemania event. 

 McMahon managed to cross the barriers of pop culture at the hands of figures such as Hulk Hogan, Randy Savage, The Ultimate Warrior, The Undertaker, Bret Hart, and Shawn Michaels.

After a stage of low performance in the mid-nineties, WWE – called WWF at the time – was revitalized by wrestlers like Stone Cold Steve Austin and The Rock through more ingrained stories that even led to the company owner himself participating in the stories in the role of the evil “Mr. McMahon.”

The foregoing led him to eradicate his main competition – the WCW company – at the beginning of this century, which allowed him to pay off his profits in the millions during the last decades.

McMahon’s departure has taken the sports world by surprise, but for some this can bring positive consequences.

Since Vince took over creative control, fans weren’t satisfied with the stories and characters. 

In fact, during his guard at the helm of the company’s creativity, one of his best and most popular characters, The Fiend / Bray Wyatt, who over the months had captivated fans with his evil character, was let go.