Vince McMahon Steps Down as WWE Chairman

Vince McMahon, the CEO of the world-famed wrestling entertainment promotion WWE, stepped down from his position, and his daughter, Stepanie McMahon, will step into as an interim CEO for the end of the ongoing investigations, the promotion announced on Friday.

The statement said: "WWE and the Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation."

However, the statement asserted that the WWE's head will continue his roles in the creative content, asserting: "McMahon will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway."

On her side, the interim chairwoman said: "I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace. I have committed to doing everything in my power to help the Special Committee complete its work, including marshalling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings."

The current investigations started recently due to the payment of $3 million-hush money by the WWE's president to a former employee who had an affair with him.

On Wednesday, the Wall Street Journal shook the world wrestling scene by posting the full story about the investigation. The report added that Vince McMahon allegedly doubled the salary of the former employee from $100,000 to $200,000 at the beginning of their affair before passing it like "a toy" to the WWE's head of talent relations John Laurinaitis.

It also stated that this employee signed a hush agreement by $3 million before she was released from the company.

Vince McMahon is set to appear at tonight's WWE Friday SmackDown which could bring tonight's episode of the blue-coloured brand to the most-viewed episodes.

No news about the timing of the McMahon's segment whether in the opening or the main, especially, since there is a match scheduled between the top face of the company and the Undisputed Universal Champion of the World Roman Reigns and Riddle for the titles.