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Vince McMahon, the iconic figure in the world of professional wrestling, has resigned from his executive chairman position at TKO Group Holdings. This decision comes on the heels of a lawsuit filed by former WWE employee Janel Grant, accusing McMahon of sexual abuse, assault, and sex trafficking. The fallout has sent ripples through the TKO organization, prompting McMahon to step away from his leadership role.
Nick Khan, WWE president, delivered the news to employees in an email, stating,
"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. He will no longer have a role with TKO Group Holdings or WWE."
McMahon, who vehemently denies the allegations, expressed his commitment to defending himself against what he called "baseless accusations" in a separate statement. Despite maintaining his innocence, he decided to resign from his executive chairmanship and the TKO board of directors, effective immediately, out of respect for the WWE Universe and TKO stakeholders.
"I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth," McMahon asserted. "I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name."
The abrupt exit marks the end of McMahon's tenure at TKO, a conglomerate formed less than a year ago through the merger of WWE and UFC under Endeavor. The move comes as a surprise, as McMahon was not forced out by TKO but chose to resign swiftly after the lawsuit surfaced.
This departure mirrors McMahon's previous exit from WWE in 2022, following allegations of hush money payments amidst a sexual misconduct investigation. Despite a short-lived retirement, he returned six months later, inserting himself back into the business until the eventual sale of WWE to Endeavor.
The void left by McMahon at TKO raises questions about the company's future direction. Endeavor CEO Ari Emanuel, who oversees TKO, asserted in the past that McMahon was an invaluable member of the team. However, the recent controversies seem to have brought an unexpected end to this partnership.
As the TKO Group Holdings navigates through this unexpected shakeup, the wrestling and entertainment world watches closely to see how the company will redefine itself in the aftermath of Vince McMahon's resignation.
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