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Vince McMahon has stepped down from his role as the Executive Chairman of TKO, the company that holds ownership of WWE, just a day after a former WWE staffer, Janel Grant, filed an explosive lawsuit alleging multiple instances of sexual assault against him.
Grant detailed disturbing incidents of degrading sexual acts allegedly perpetrated by McMahon, including an accusation that he defecated on her during a threesome in 2020. Despite feeling miserable and enraged, Grant claimed she did not leave due to the fear that her pleas would be ignored or weaponized to harm her career and reputation.
According to Grant, McMahon distanced himself from her in early 2022 after his wife, Linda McMahon, became aware of their alleged relationship. She further stated that McMahon agreed to a $3 million settlement in exchange for signing a non-disclosure agreement, but he failed to fulfill the payment.
In response to the allegations, the 78-year-old McMahon released a statement asserting his innocence and announced his resignation, citing it as the best move for the wrestling promotion he established decades ago.
The statement reads, “Out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately.”
Current WWE president Nick Khan conveyed the news to employees through an email late Friday, stating, “[Vince McMahon] has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE.”
