Vince McMahon retired as WWE's Chairman and CEO last week. Meanwhile, WWE has reportedly removed his name from the backstage area. But why?
World Wrestling Entertainment (WWE), ideally considered the global leader in professional wrestling, is going through a transition phase and ushering in a new era. It all started last month after then-Chairman and Chief Executive Officer (CEO) Vince McMahon was accused of financial irregularities and sexual misconduct with one of his former employees. He temporarily stepped away from the role before retiring last week, with his daughter Stephanie McMahon and Nick Khan becoming the new co-Chairman and CEO. Also, Vince no longer has his final say in the creative department, with the former WWE superstar becoming the new creative head.
In the meantime, it has been reported by PWInsider that WWE is removing McMahon's name from the backstage area. His office is now marked as the 'CEO's Office', while another room has been marked simply for H as 'Paul Levesque'. WWE has decided to keep no trace of its disgraced former WWE Chairman backstage.
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However, despite McMahon announcing his retirement, WWE's Q2 2022 financial reports suggested that he had not retired but instead resigned. The reports also revealed that he had made unrecorded payments of $14.6 million between 2006-22. It happens to be a case of his ongoing "hush money" scandal, as previously reported by the Wall Street Journal, while the Security and Exchange Commission, along with the federal prosecutors, is investigating the issue, leading to his quickened exit from the company.