In 1982 Vincent Kennedy McMahon purchased WWE from his father Vincent James McMahon. Since then, he made the company into a global phenomenon. McMahon also faced a lot of allegations and lawsuits over the past 40 years. Most recently he was investigated by the WWE board of directors for a hush money scandal.
Today, Vince McMahon announced that he is retiring from WWE duties. McMahon issued the following statement on Twitter.
At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful
Vince McMahon issued the following statement to the media and it stated Stephanie McMahon and Nick Khan will serve as Co-CEOs of WWE.
STAMFORD, Conn., July 22, 2022 – Vince McMahon today released the following statement:
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.
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.
We will update you when we receive more details. Stay tuned with The Spotlight.