Vince McMahon voluntarily stepped down as Chairman and CEO of WWE on Friday morning amid allegations of misconduct and an ongoing investigation by the company, the WWE announced in a statement.
Stephanie McMahon was named interim CEO and interim Chairwoman. She’s the daughter of Vince McMahon, the company’s chief brand officer as well as a former wrestler.
The WWE board of directors began investigating McMahon in April and discovered he paid $3 million to cover up an affair with a former employee, according to a recent report by the Wall Street Journal.