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Vince McMahon retires as WWE chief amid sexual misconduct probe

Here’s the latest on McMahon officially retiring from the WWE.

Press Conference To Announce A Major International Event At MetLife Stadium
Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
Photo by Michael N. Todaro/Getty Images

UPDATE: Stephanie McMahon and Nick Khan (who is the President and Chief Revenue Office of WWE) will act as co-CEOs.

Vince McMahon is stepping down as chief of WWE amid sexual misconduct probe, per CNBC. McMahon had stepped down as CEO and chairman during the initial probe a month ago. Since then, more information about the case has been released, and he is fully retiring as Chief.

McMahon had previously stepped away voluntarily as the board of the WWE conducted its investigation. He is under investigation for sending multiple settlements to women who have accused him of extramarital sexual misconduct. McMahon’s daughter Stephanie has been filling in as the interim CEO. She had initially stepped away from the WWE to spend more time with her family but returned when this investigation turned up.

McMahon has been involved with the WWE since 1969 in some form or another. He is credited with the rise of the wrestling industry as it is today. Fans have often wondered how long he would be in charge, and this will be a new page for the WWE. A full-time successor has not yet been named, but it could be some form of Stephanie, Vince’s son Shane or his son-in-law Paul “Triple H” Levesque, who just returned to his role earlier on Friday.