Vince McMahon is officially out as the chairman and CEO of WWE.
World Wrestling Entertainment co-CEO Nick Kahn said a special committee of independent directors looking into alleged misconduct by its former chief has completed its mission and been disbanded.
A report from Fightful spoke to a WWE spokesperson on the matter, and they said McMahon was “done, done” and would not return to the roles assumed by Triple H, who is the company’s chief creative officer, his daughter Stephanie McMahon and Nick Khan, who are co-CEOs.
“Another longtime WWE employee said that while they initially had reservations, hesitations and fears regarding McMahon’s departure and him possibly quickly coming back, that’s no longer the case,” Fightful reported. “They went as far as to say that everyone in charge realizes that would be a major step back for the company, and that today’s filing instilled even more confidence in those that thought McMahon leaving would be a blow to the company.”
The investigation cost WWE $19.4 million, but they did not elaborate if the expense is the same $19.6 million in previously unrecorded payments made by McMahon.
WWE had been investigating allegations that McMahon paid millions of dollars to various women as hush money in exchange for silence over relationships and misconduct.
The former WWE chairman and CEO resigned from his position in July.
Despite everything, McMahon remains the controlling shareholder of WWE and has 80% voting power in the company.WANT MORE FROM TOTALPROSPORTS? FOLLOW US ON GOOGLE NEWS.