Vince McMahon has announced his retirement from the WWE WWE, +0.62%.
The news comes after the WWE announced it is investigating $ 12 million in payments given out by former CEO Vince McMahon over the last 16 years to conceal a series of sexual misconduct allegations, according to The Wall Street Journal.
The money was sent to four women that would prohibit them from discussing these claims against McMahon, or their relationships with him. The 76-year old McMahon resigned as the head of WWE earlier this year.
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Who will replace Vince McMahon? Meet the new Boss.
Stephanie McMahon is taking over as World Wrestling Entertainment Inc.’s chairman and CEO.
Stephanie McMahon had previously worked as the WWE’s chief brand officer, and will run things in the meantime.
“Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO,” she tweeted in June. “I love @WWE and all it continues to do to entertain billions around the world.”
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Here are five things to know about the WWE’s new CEO.
Wrestling runs in the family.
As stated above, Stephanie McMahon is the daughter of Vince McMahon. But she is also the fourth generation in the McMahon family to be either a wrestling or boxing promoter. The tradition traces back to her great-grandfather Roderick “Jess” McMahon, grandfather Vincent J. McMahon, as well as her father, Vince K. McMahon
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She is also a former professional wrestler.
Stephanie McMahon had dozens of appearances as a pro wrestler at various WWE events, including WrestleMania and Smackdown. Her WWE storylines and events include “Vengeance 2003” and “1999 Raw,” according to a Bleacher Report article recounting her career, which described her as, “a scavenger, waiting for someone else to fell the prey before lunging at it.”
She is married to a pro wrestler.
Stephanie McMahon has been married to WWE wrestler Paul “Triple H” Levesque since 2003. It was a case of life imitating art, as McMahon and Triple H had an “on-screen” romance, which culminated in them getting married for a WWE event in 1999.
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She and Triple H have even occasionally competed as a couple at WWE events throughout the careers. The dynamic duo grapple together under the name The Authority.
Her net worth is reportedly around $ 150 million.
Stephanie McMahon and her husband Paul “Triple H” Levesque have a combined net worth of $ 150 million, Celebrity Net Worth estimates.
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In addition to her C-suite roles at the WWE, McMahon owns millions of dollars worth of WWE common stock as of 2020, according to an SEC filing. WWE shares were trading just above $ 62 the day she was named the interim CEO on Friday, June 17.
She was taking a leave of absence, before becoming the interim CEO.
In May, Stephanie McMahon announced she was taking a leave of absence from her WWE responsibilities as chief brand officer, citing her family. “WWE is a lifelong legacy for me and I look forward to returning to the company that I love after taking this time to focus on my family,” she tweeted.
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The Wrestling Observer reported that McMahon would be back eventually, but there was no timetable for her return — until she was named the new CEO this week, that is.