Vince McMahon, the CEO and Chairman of World Wrestling Entertainment, Inc. (NYSE: WWE), has stepped down until the investigation into his alleged misconduct is completed, StreetInsider.com reported, citing the company. The announcement comes after reports of McMahon agreeing to pay $3 million to John Laurinaitis, an ex-employee, in January. Laurinaitis, who led Talent Relations at WWE, allegedly had an affair with McMahon. During the course of the investigation, Stephanie McMahon, Vince’s daughter, will serve as Interim Chairwoman and Interim CEO of the entertainment company, and Vince will fulfill his creative content responsibilities.
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