Vince McMahon, long time CEO of the WWE publicizes his retirement. - NPR

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World Wrestling enjoyment Inc. Chairman Vince McMahon appears in the ring in 2009 all the way through the WWE Monday night raw display in Las Vegas. Ethan Miller/Getty images disguise caption

toggle caption Ethan Miller/Getty photos

World Wrestling entertainment Inc. Chairman Vince McMahon appears in the ring in 2009 during the WWE Monday nighttime raw demonstrate in Las Vegas.

Ethan Miller/Getty photographs

Vince McMahon, chief govt officer and chairman of World Wrestling entertainment announced his retirement on Friday on the age of seventy seven. In a tweet posted in the late afternoon McMahon cited that "At seventy seven, time for me to retire." He then thanked the WWE universe.

The announcement comes a month after McMahon stepped down from his obligations amid allegations that the CEO paid up to $12 million in hush funds to former employees.

At 77, time for me to retire. thank you, WWE Universe.  Then. Now. invariably. together. #WWE #thankful

— Vince McMahon (@VinceMcMahon) July 22, 2022

"all over the years or not it's been a privilege to assist WWE deliver you pleasure, inspire you, thrill you, shock you, and all the time entertain you," McMahon noted in a corporate statement.

He went on to thank his household, the current and former superstars who've wrestled for the business, and the enthusiasts for permitting the WWE into their domestic a week.

"Our world viewers can take consolation in realizing WWE will will proceed to entertain you with the equal fervor, dedication, ardour as all the time," stated McMahon. "i am extraordinarily assured within the endured success of the WWE and that i depart our enterprise within the ready arms of an impressive neighborhood of Superstars, employees, executives — in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. i'll proceed to aid WWE in any way that i can. My very own thanks to the community and company partners, shareholders, and the Board of administrators for his or her advice and aid in the course of the years. Then. Now. continually. collectively."

subculture Vince McMahon steps down as WWE CEO whereas the company investigates alleged misconduct

McMahon is being investigated by WWE's board of administrators over allegations that he'd paid thousands and thousands of dollars to quite a few ladies in trade for his or her silence concerning his relationships and misconduct. whereas the investigation became ongoing, the longtime WWE boss stepped down from his position as chairman and CEO. The company's president Nick Khan and McMahon's daughter Stephanie McMahon will serve because the new heads of the enterprise.

McMahon bought what turned into as soon as commonly used as the WWWF from his father, Vince McMahon Sr., in 1982. He changed the name to the WWF, which it become called unless 2002, and constructed a world company that has been watched weekly in thousands and thousands of homes and contours lucrative pay-per-view events, akin to Wrestlemania.

within the most contemporary fiscal yr, the company suggested record revenues of $1.1 billion, in part because of the return of tremendous-scale public routine as the coronavirus pandemic waned.