77-year-old Vince McMahon announces retirement from WWE as chairman & CEO

Vince McMahon, who is widely considered most important person in history of pro wrestling, has decided to hand over reins by anuncing his retirement from WWE on Saturday. McMahon took to his official Twitter handle in early hours of Saturday and thanked WWE Universe, anuncing that he has decided to retire from position of CEO and chairman of WWE, at of 77. In a WWE news release, McMahon also anunced that his daughter Stephaine, who is current interim CEO, and WWE president Nick Khan will be taking over as co-CEOs, while Stephaine takes over as chairwoman.

Meanwhile, in his statement about his retirement, McMahon said, “Throughout 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 ir 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."

McMahon’s retirement comes as a significant surprise for WWE fans as it is set to bring a massive change in pro-wrestling, where he has been face of WWE since buying promotion from his far in 1980s. He successfully built company into a billion-dollar brand, getting worldwide reach and popularity. However, McMahon stepped down from his role as chairman and CEO in June this year, after a report by Wall Street Journal revealed that WWE board is investigating into a secret USD 3 million hush money settlement towards a former WWE employee, with whom he had an affair.

Triple H resumes his role as EVP, Talent Relations

Despite this, McMahon continued with his role as WWE creative head and kept appearing on RAW and SmackDown weekly shows. While reports about same revealed that McMahon stepped down just for optics, statement on Friday has more clarity about situation. It is pertinent to mention that Stephaine’s husband and former WWE superstar Triple H resumed his role as head of talent relations on Friday. 

'I will continue to support WWE,' says Vince McMahon

“I am extremely confident in continued success of WWE, and I leave our company in 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 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 ir guidance and support through years,” McMahon said in his statement. 

(Im: wwe.com)