Vince McMahon RETIRES From WWE - Here's Who Will Replace Him As The Company's New CEO!

With mounting allegations of sexual misconduct, WWE Chairman Vince McMahon has confirmed he will retire from his role as CEO. After the jump, you'll find a statement from him along with news on a replacement!

It was recently revealed that Vince McMahon allegedly paid a former WWE employee to keep their sexual relationship secret, with a subsequent report claiming he did the same with three other women. Reportedly forking out upwards of $16 million over the past sixteen years, various sexual misconduct accusations have surfaced and resurfaced, leaving his future uncertain.

With shareholders investigating the matter, Vince stepped down as Chairman and CEO but has continued appearing on RAW and SmackDown (along with serving as Head of Creative). Clearly defiant, it was apparent he wouldn't go without a fight.

Now, though, it appears he's decided to jump before being pushed as Vince has announced his retirement.

While he doesn't mention that creative role, it sounds like McMahon is moving on from the company, news many fans will welcome given a decline in the product's quality in recent years. Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan will take over, while it was revealed earlier today that Triple H is back as EVP, Talent Relations.

Below is the press release from WWE along with the Tweet announcing Vince's retirement. 

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."

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