Vince McMahon sent shockwaves with his recent announcement. He let his fans know that he calling it day in his pro wrestling career. He took to his Twitter account and sent out a Tweet mentioning the same and also an official statement was released.
Vince McMahon is stepping back
The long-term WWE CEO/Chairman confirmed that he would be stepping back from the company.
It has been officially announced that Stephanie McMahon and Nick Khan will take over the higher management duties. Stephanie is the Chairwoman and both of them will serve as  Co-CEO.
The 76-year-old wrote the following in his tweet, as he thanked the WWE Universe:
“At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful.”
McMahon had recently stepped away from his corporate duties in the wake of a bombshell investigation into a series of hush money payments, allegedly made by the former chairman and CEO to former female employees to silence their potential accusations of harassment, misconduct, and abuse against both McMahon and former Head of Talent Relations John Laurinaitis. Laurinaitis has since been removed from his position, with Paul Levesque (fka Triple H) officially taking over his duties earlier today.
While his daughter Stephanie stepped in as Interim Chairwoman and CEO, McMahon had been retaining creative control of the company during the investigation.
Vince McMahon today released the following statement via Business Wire:
‘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.’