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XFL Founder Vince McMahon Steps Aside as WWE CEO After Hush-Money Allegations

Today is a massive day for the XFL, with the player showcases underway in College Park, Maryland. The former XFL owner and creator of the XFL is in the middle of an investigation from the board of directors of the WWE for alleged misconduct by himself and John Laurinaitis, the head of talent relations. The Wall Street Journal broke the news Wednesday afternoon of the $3 Million hush pact with a former employee who he was involved in an affair with. The Non-Disclosure Agreement between the employee and Vince McMahon that was signed back in January of this year prevented her from discussing her relationship or making derogatory remarks towards Vince McMahon, according to the article published by the Wall Street Journal.

Vince McMahon Steps Aside as CEO and Chairman Effective Immediately

This morning the corporate website for WWE posted a joint press release from WWE and the Board of Directors on the situation, that Vince McMahon has voluntarily stepped back from his responsibilities as CEO effective at once Chairman of the Board until the conclusion of the investigation. He will, though, continue his role creatively with WWE in the decision-making on the television product itself but still is committed to cooperating with the review process, which is currently underway.

The Wall Street Journal reported on Wednesday that WWE’s Board of Directors received an email on March 30th that alleged Vince McMahon hired a 41-year-old employee as a paralegal with a salary of $100,000 but then increased the pay to $200,000 after a sexual relationship with her started. The email then went into detail about how he gave her like “a toy” to John Laurinaitis, along with numerous additional misconduct allegations toward Laurinaitis as well.

Since the investigation started, it uncovered that older NDAs involved different claims by former female employees of misconduct by the CEO Vince McMahon. WWE has begun and kept its story that the relationship between the two was consensual despite Vince McMahon being married to Linda McMahon. She is the former head of the Small Business Administration during President Donald Trump’s presidential term.

The full article from the Wall Street Journal can be read here

https://www.wsj.com/articles/wwe-appoints-vince-mcmahons-daughter-as-interim-ceo-amid-probe-11655467082

The Special Committee Appoints the Daughter of Vince McMahon, Stephanie McMahon as interim CEO and Interim Chairwoman

As Stephanie McMahon’s tweet explained, the special committee in charge of the investigation named her to serve as the interim CEO and Chairwoman until the investigation wraps up. Vince McMahon said he is pledged to complete cooperation with the investigation and will accept the findings and outcome of the investigation no matter what they end up being.

WWE and its Board of Directors are taking this situation and all the different allegations of misconduct very seriously, and with the independent directors of the Board have brought in an independent legal counsel to assist them with the review, they also will work with an independent third-party to do a full review of the company’s compliance program including Human Resources function and the overall culture throughout the company.

XFL Lawsuit on the heels of these allegations with former XFL Commissioner Oliver Luck

All these allegations come on the heels of the current lawsuit Vince McMahon is facing from the 2020 rendition of the XFL against former Commissioner Oliver Luck, which was just reported on by XFLNewsHub’s own Andrew Murray this morning on a potential settlement sizzling and a trial date has now been set for July 11th which you can view that article with the link below.

Stay tuned to XFLNewsHub for more information on this developing news story out of Stamford, Conn home of the World Wrestling Entertainment.

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