Vince McMahon is stepping down from his post atop TKO Group Holdings — the company formed in the wake of WWE’s merger with UFC — following sex abuse allegations from a former WWE staffer, Variety reports.
“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors,” WWE president Nick Khan said in an email to staff. “He will no longer have a role with TKO Group Holdings or WWE.”
More from TVLine
On Thursday, news broke that ex-WWE employee Janel Grant accused McMahon of sexual assault and trafficking in a lawsuit that also lists the company’s former head of talent and general manager John Laurinaitis as a defendant.
In the suit, Grant alleges that McMahon forced her into a sexual relationship to keep her job and had shared explicit videos and photos of her to other WWE employees. A copy of the lawsuit can be read here.
McMahon reiterated his denial of the allegations in a statement confirming his departure.
“I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name,” he said. “However, 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.”
McMahon returned to WWE in January 2023 after previously stepping down for six months amid allegations that he had agreed to pay millions to four women over decades to cover allegations of infidelity and sexual misconduct.
His return last year prompted daughter Stephanie McMahon — who had been serving as co-chief executive officer and chairwoman — to resign, leaving Khan as the WWE’s sole president.
Best of TVLine