WWE owner Vince McMahon announces his retirement amid a sex scandal investigation
World Wrestling Entertainment Inc. Chairman Vince McMahon appears in the ring in 2009 during the WWE Monday Night Raw show in Las Vegas.
At the age of 77, World Wrestling Entertainment's CEO and Chairman, Vince McMahon, made his retirement announcement on Friday. At 77, it's time for me to retire, McMahon wrote in a late-afternoon tweet. The WWE community was then thanked.
The revelation comes one month after McMahon resigned from his position as CEO amid claims that he gave former workers hush money worth up to $12 million.
WWE will continue to thrill you with the same enthusiasm, devotion, and passion as always, McMahon assured the company's global audience. "I have complete faith in the WWE's future success, and I give over the reins to a remarkable team of Superstars, staff members, and executives, especially Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. I'll keep doing whatever I can to help WWE.
He continued by expressing gratitude to his family, the present and previous WWE superstars, as well as the supporters, for letting the company inside their homes each week.
The business recently announced record revenues of $1.1 billion, in part due to the resurgence of major public events as the coronavirus outbreak subsided.
In 1982, McMahon acquired the former WWWF from his father, Vince McMahon Sr. He changed the name to the WWF, which it retained until 2002, and created a worldwide brand that is shown every week in millions of homes and hosts profitable pay-per-view events like Wrestlemania.
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