WWEs Vince McMahon announces retirement after misconduct allegations

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WWE's former chairman and CEO Vince McMahon has announced his retirement today (July 22) following allegations of executive misconduct.

He tweeted this evening: "At 77, time for me to retire. Thank you, WWE Universe.

"Then. Now. Forever. Together. #WWE #thankful."

READ MORE: Triple H confirms WWE return revealing 'I’m healthy' months after heart attack

His decision comes after the board of World Wrestling Entertainment are said to be investigating a £2.4million ($3million) hush money settlement over an alleged affair between Mr McMahon and a former WWE employee.

Independent directors are said to be continuing their review of alleged executive misconduct.

Following the earlier tweet, Mr McMahon but our a statement via WWE.

It read: "As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand.

"Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment."

The news comes following Mr McMahon's decision to "voluntarily step back" from his duties to allow his daughter Stephanie McMahon to be named interim CEO and interim Chairwoman of the WWE last month.

Today's news also comes as Stephanie's husband and wrestling icon Triple H returned to his WWE role following a near fatal heart attack.

Real name Paul Levesque, Triple H said on Friday: “I look forward to returning to my prior position as head of Talent Relations. I’m healthy, fired up, and ready to take charge."

Mr McMahon's statement concluded by stating he was leaving WWE in good hands with Stephanie and now Co-CEO Nick Khan.

The statement concluded: “Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always. I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.

"As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”

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