Vince McMahon retires as WWE Chairman and CEO, he announces on Twitter, weeks after WWE confirm they were… – talkSPORT

Vince McMahon has retired from his duties with WWE, the 77-year-old has announced on Twitter.

The businessman has dominated the wrestling industry after buying the company back in 1982.

He is a third-generation promoter, having taken over WWE (formerly WWF) from his father, Vince McMahon Sr, in the 1980s.

Under his Mr. McMahon persona, he has also ventured into the ring, becoming a two-timeworld champion, aRoyal Rumblewinner, and a multi-timepay-per-viewheadliner.

As I approach 77 years old, I feel its time for me to retire as Chairman and CEO of WWE, he said in a statement released by the sports entertainment company.

Throughout the years, its 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.

This comes after WWE confirmed that they were conducting an investigation into alleged misconduct by McMahon, which led to him standing down from his duties, pending the conclusion of the internal inquiry.

TheWall Street Journalalleged earlier his month that he had privately come to a 2.4million settlement with a former employee over an alleged affair.

The WWE confirmed in a statement: The Board of Directors today announced that a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations.

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Effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.

McMahon will retain his role and responsibilities related to WWEs creative content during this period and remains committed to cooperating with the review underway.

The statement from the company also confirmed that McMahons daughter, Stephanie, had taken the roles of interim CEO and interim chairwoman.

The 45-year-old has been involved in the family business for a long time, but recently stepped back after her husband legendary wrestlerTriple H recovered from cardiac surgery.

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Vince McMahon retires as WWE Chairman and CEO, he announces on Twitter, weeks after WWE confirm they were... - talkSPORT