Stephanie McMahon takes over at WWE while investigation on father continues

Stephanie McMahon will be the interim Chairman and CEO of WWE while an investigation is ongoing over the recent allegations that her father, Vince McMahon, paid out a settlement to a former employee over an alleged sexual relationship and has voluntarily stepped down from his role.  Stephanie McMahon recently announced that she was stepping away from her role as Chief Branding Officer, but is now thrust back into the spotlight while an investigation is pending.

Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO. I love @WWE and all it continues to do to entertain billions around the world. https://t.co/E2MushpoSG

— Stephanie McMahon (@StephMcMahon) June 17, 2022

The Wall Street Journal first reported the investigation taking place in which McMahon paid a former employee a settlement as a result of a sexual relationship.  The report uncovered other undisclosed settlements paid personally by McMahon.  Included in the discovery was an undisclosed settlement on behalf of WWE executive John Laurinaitis. 

Less than a month ago, McMahon announced that she would be taking a leave of absence to focus on her family.  The move was a surprise at the time and the ripple effect of her departure came with rumors that she was not performing well in her role.  The latest reflects the fact that she may have been forced out of her position from the company.

Mr. McMahon will appear on SmackDown tonight at 8 PM ET live on FOX. pic.twitter.com/6XEEDwR0Hy

— WWE (@WWE) June 17, 2022

Payout Perspective:

In only a WWE turn of events, Vince McMahon is scheduled to appear on WWE Friday Night Smackdown tonight.  Whether or not Vince McMahon is fired from his office in character or he breaks kayfabe and announces his leave, the show will draw more ratings to see what will happen.  This could be the exit that many WWE fans (and perhaps shareholders) were hoping for with Vince McMahon.  Perhaps this is a good transition for the sale of the company or for others within the family to take over.