Vince McMahon steps down as WWE CEO while the company investigates alleged misconduct

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Mr. McMahon, the pro wrestling company’s chairman and chief executive, agreed to pay a secret settlement to an employee with whom he was said to have had an affair

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Vince McMahon is in the middle of a corporate firestorm, but he still opened the company's wrestling telecast "Smackdown" on Friday.

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Stephanie McMahon, his daughter, will take over as interim chief executive and chairwoman, the company said in a statement.

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Mr. McMahon will remain involved with W.W.E.’s creative content and “remains committed to cooperating with the review underway,” the company said.

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Ms. McMahon said in her own personal statement, “I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company

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McMahon has run the company for 40 years after taking over for his father in 1982, when it was known as the World Wrestling Federation.

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He'll still maintain control of the WWE's creative output during the investigation, and the company announced he'd appear on Friday night's episode of SmackDown.

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