Vince McMahon has stepped down from his role as the Executive Chairman of TKO, the parent company of WWE, just one day after a former WWE employee filed a sensational lawsuit accusing him of multiple instances of sexual assault.
The accuser, identified as Janel Grant, detailed disturbing allegations of degrading sexual acts perpetrated by McMahon. She claimed that in 2020, during a threesome, McMahon defecated on her. Despite feeling miserable and enraged, Janel stated that she didn’t leave due to the belief that her pleas would be ignored or potentially used against her career and reputation. McMahon allegedly distanced himself from her in early 2022 after his wife Linda McMahon became aware of their purported relationship.
According to Janel, McMahon had agreed to a $3 million settlement in exchange for signing a non-disclosure agreement, but she asserts that he failed to fulfill the agreed-upon payment.
In response to the allegations, the 78-year-old McMahon released a statement maintaining his innocence and announced his resignation, citing it as the best decision for the wrestling promotion he founded decades ago.
His 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.”
The news of McMahon’s resignation was communicated to WWE employees by the current president, Nick Khan, in a late Friday email. Khan stated, “[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.”
