By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)
WWE issued the following press release on Friday to announce Vince McMahon’s retirement as as Chairman and CEO of WWE.
STAMFORD, Conn.–(BUSINESS WIRE)– 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.”
Powell’s POV: Even with the board investigating Vince and the various stories about his NDA’s, it’s still a shocking moment that McMahon has opted to step aside. This raises a lot of questions regarding the future of the company on the business side as well in terms of who will be running the creative end of things. For those who missed it earlier, Paul Levesque was named the Head of Talent Relations again earlier today. Will Pruett and I are recording Dot Net Weekly right now and so we will have a lot to say about this development when the show is released later today for Dot Net Members (including our Patreon patrons).
Update: ProWrestling.net has confirmed that Vince McMahon has retired from each of the positions he held in WWE.