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Vince McMahon steps back as WWE chairman, CEO amid investigation

Vince McMahon is stepping back from his roles at WWE as he is investigated for "alleged executive misconduct." File Photo by Jim Ruymen/UPI
Vince McMahon is stepping back from his roles at WWE as he is investigated for "alleged executive misconduct." File Photo by Jim Ruymen/UPI | License Photo

June 17 (UPI) -- WWE chairman and CEO Vince McMahon is stepping back from his roles amid an investigation into his "alleged executive misconduct."

The WWE said in a press release Friday that McMahon has "voluntarily stepped back" as a special committee of the board of directors investigates him and Jon Laurinaitis, head of talent relations.

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"McMahan will retain his role and responsibilities related to WWE's creative content during this period and remains committed to cooperating with the review underway," the company said.

McMahon's daughter Stephanie McMahon confirmed on Twitter that she will serve as interim chairwoman and CEO.

"Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO. I love @WWE and all it continues to do to entertain billions around the world," Stephanie McMahon wrote.

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The Wall Street Journal reported earlier this week that McMahon and Laurinaitis are being investigated for previously undisclosed settlement agreements with former employees.

The settlements include $3 million paid to a former female employee with whom McMahon had an alleged affair.

Stephanie McMahon had announced in May that she would be taking a leave of absence from her responsibilities at WWE to focus on her family.

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