Twitter marks 'End of an Era' with Vince McMahon retiring as WWE Chairman
Vince McMahon has been the WWE Chairman since 1980. He has stepped down from the role after 42 years, heading into retirement.
In what can indeed be considered the 'End of an Era', Vince McMahon has decided to permanently step down from his role as WWE Chairman and CEO. On Friday, he announced his retirement from the post after nearly 42 years since he founded the company and took charge of it back in 1980. He came up with the announcement on Twitter, besides clarifying his decision through a press release. He had already stepped down from the role on an interim basis following allegations of sexual misconduct and paying money to the employee to keep matters private, with the case currently under investigation.
McMahon's daughter Stephanie and Nick Khan will serve as co-CEOs of WWE, while the former will take over as the new WWE Chairperson. McMahon had also become the CEO of the company in 2009, a position handled by his wife Linda, who had to resign from the post to pursue political office.
As McMahon retires, it also means that he will no longer have creative control in WWE, meaning that he would no longer have his say on the feuds and storylines produced for various WWE shows between the superstars. In contrast, Stephanie was already the chief branding officer until she took an indefinite break from the role recently. At the same time, her husband, Triple H (a former WWE superstar), serves as the COO of the company.
In his statement, McMahon wrote, "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, thrill, surprise, 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 worldwide who have liked, currently like, and sometimes even love our form of Sports Entertainment," added McMahon.
"Our global audience can take comfort in knowing WWE will continue to entertain you with the same enthusiasm, 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," McMahon continued.
"As the majority shareholder, I will continue to support WWE in any way I can. I thank our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together," concluded McMahon. Meanwhile, Twitter also marked the end of an era.