On Friday (July 22), Vince McMahon announced his retirement from the WWE. McMahon released a statement, where he started off referencing his age as his decision to retire.
"As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment."
Vince named his daughter Stephanie McMahon and WWE president Nick Khan as co-CEOs, as he continued in his statement, "Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together."
This comes after McMahon announced in June that he was stepping away from his duties as CEO amid allegations that he paid millions to women to stay quiet about alleged affairs. It was later reported that McMahon paid out $12 million to four women in the ordeal.
Source: Variety
