The investigation into Vince McMahon has been completed.
On June 15, the Wall Street Journal reported that the WWE Board had launched an investigation into Vince McMahon over alleged sexual misconduct and hush money.
In the 2022 third quarter earnings report, WWE announced that the investigation is complete and the Special Committee has been disbanded. The investigation cost WWE $19.4 million.
From WWE:
Special Committee Investigation
As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate alleged misconduct by Vincent K. McMahon, the Company’s former Chairman and Chief Executive Officer, who resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest, and another executive, who is also no longer with the Company. The Special Committee investigation is now complete and the Special Committee has been disbanded. Management is working with the Board to implement the recommendations of the Special Committee related to the investigation. For the three and nine-month periods ended September 30, 2022, the Company’s consolidated pre-tax results include the impact of $17.7 million and $19.4 million, respectively, associated with certain costs related to the investigation. Please see the Company’s SEC filings, 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 further details and ongoing risks regarding this matter.
Vince McMahon retired as CEO of WWE on July 22 amid the investigation. Nick Khan and Stephanie McMahon were named Co-CEOs.
Fans can view highlights from the earnings report by clicking here.
