World Wrestling Entertainment CEO and chairman Vince McMahon announced his retirement Friday at the age of 77. McMahon said, “At 77, time for me to retire,” in a tweet he sent out late that afternoon. After that, he thanked everyone in WWE.
It comes a month after McMahon stepped down as CEO amid claims that he paid former workers $12 million in hush money.
While working with the WWE, Vince McMahon claimed that it was a delight to help the company spread happiness, instill hope in the hearts of the fans and keep them entertained through all the years.
Afterward, he thanked his family, present and former WWE superstars, and the WWE’s fans for welcoming the organization into their homes on a weekly basis.
In McMahon’s words, “You can be assured that WWE will continue to thrill you with the same intensity, dedication, and passion as always.” “Our company’s future is in the hands of an exceptional collection of Superstars, employees, and executives, particularly both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. I am confidence in their abilities. As long as I can, I’ll continue to help WWE in any way I can. I would want to express my gratitude to the company’s shareholders, business partners, and board of directors for all of their help and support over the years. Then, now, and forever.”
Over allegations that McMahon paid women millions of dollars to keep quiet about his relationships and wrongdoing, WWE’s board of directors is conducting an investigation. Former WWE chairman and CEO Vince McMahon resigned while the investigation was ongoing. New CEOs of the corporation will be current president Nick Khan and his daughter Stephanie McMahon, who succeeded her father.
In 1982, McMahon purchased the WWWF from his father, Vince McMahon Sr., and renamed it the World Wrestling Federation of America (WWF). A global brand with profitable pay-per-view events like Wrestlemania is the result of him changing the name to the WWF, as it was known as until 2002.
Large-scale public events returned in recent fiscal years as the coronavirus pandemic subsided, contributing to the company’s record revenues of $1.1 billion.