WWE News: WWE’s internal investigation into Vince McMahon concludes
Last June, the Wall Street Journal reported that the WWE Board of Directors had launched an investigation into Vince McMahon for alleged sexual misconduct.
Diversion of money (bribes). The scandal caused the WWE chairman to temporarily abandon his position at the helm of the company.
Although he finally decided to announce his retirement from the company.Today, the company has presented the financial results.
The third quarter of 2022. During the meeting, WWE announced that the investigation weighing on McMahon had concluded that the.
Special Committee had been dissolved. It should be noted that the investigation cost the company $19.4 million. Here is the official statement:
“From WWE:
Special Committee investigation
As previously announced, a Special Committee of independent members of the Board of Directors has been formed to investigate the alleged.
Misconduct of Vincent K. McMahon, the former Chairman and CEO of the company, who resigned from all positions he held with the company.
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On July 22, 2022, but who remains a shareholder.
With a controlling stake, and another executive, who is also no longer with the company. The Special Committee’s investigation ha
Been concluded and the Special Committee has been dissolved. Management is working with the Council to implement.
The Special Committee’s recommendations related to the investigation. For the three and nine month periods ended September 30, 2022,
The Company’s consolidated results before taxes include the impact of $17.7 million and $19.4 million, respectively, associated with.
Certain costs related to the investigation. . See the Company’s filings with the SEC, including, but not limited to, its annual report.
On Form 10-K/A and quarterly reports on Form 10-Q/A and Form 10-Q for more details and risks. continued in relation to this matter”.
It should be remembered that Vince McMahon’s departure caused severe changes in WWE, with Nick Khan and Stephanie McMahon.
Being named co-general directors of the company, while Triple H took over creative work. Since then, the company entered a transition.
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Stage characterized by a series of transformations of all kinds that have been received with great pleasure by most of its workers.
