Vince McMahon, the American businessman, media mogul, and founder of World Wrestling Entertainment (WWE), has resigned from his position as executive chairman of TKO Group Holdings, the parent company of WWE. This announcement comes in the wake of a lawsuit filed against McMahon, accusing him of sexual assault, trafficking, and physical abuse.
The legal action was initiated by Janel Grant, a former WWE employee who filed a lawsuit against McMahon, the WWE, and former head of talent relations John Laurinaitis for sexual misconduct. Grant alleges that McMahon exploited a job offer at WWE and subsequent promotions as leverage for sexual favors. Furthermore, she accuses McMahon of coercing her into a sexual relationship, sharing explicit content of her with male colleagues, and making increasingly inappropriate demands.
McMahon, denying the allegations, asserted his readiness to defend himself in court. In a statement, he declared, “I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth.”
Despite his denial, McMahon announced his immediate resignation from his positions as TKO executive chairman and the TKO board of directors. The decision, according to McMahon, is out of respect for the WWE Universe, TKO business, its board members, shareholders, partners, constituents, and all the employees and Superstars who contributed to making WWE a global leader.
Nick Khan, WWE president, confirmed that McMahon will no longer have a role with TKO Group Holdings or WWE. This development follows a tumultuous period for McMahon, as in 2022, the WWE board initiated an investigation into a reported $3 million settlement between McMahon and an ex-employee with whom he had an affair. The investigation concluded in November 2022, leading to McMahon’s return to WWE’s board in January 2023.