Vince McMahon (Shutterstock image)
January 28, 2024
Vince McMahon has resigned as executive chairman of World Wrestling Entertainment’s parent company, TKO Group, days after a former WWE employee Janel Grant filed a lawsuit alleging the WWE founder and former CEO, along with another WWE executive, sexually assaulted, harassed and trafficked her over a period of years.
McMahon, who has not been criminally charged with any crimes, denied the allegations, but said he would step down due to “respect for the WWE Universe.”
“I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately,” McMahon said in a statement. He remains WWE’s largest shareholder.
In a separate statement, TKO said: “Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE. While this matter pre-dates our TKO executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally.”
After briefly resigning from WWE in 2022 following allegations of improper workplace behavior, McMahon returned in early 2023 to help facilitate WWE’s sale to entertainment Endeavor Group Holdings, which combined the pro wrestling entertainment company with Ultimate Fighting Championship to create TKO.
Earlier this week, TKO inked a reported $5 billion exclusive streaming rights agreement with Netflix for WWE’s weekly “Raw” live wrestling show, among other assets. The company also named Dwayne “The Rock” Johnson to its board of directors.
NBCUniversal’s Peacock is the current exclusive streaming platform for WWE programming, including last night’s “Royal Rumble” live event.
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