Vince McMahon has resigned as TKO Executive Chairman and given up his place on the company’s Board of Directors.
WWE President Nick Khan sent an email to staff on Friday night. Per Variety, it stated:
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 himself issued the following statement via Deadline:
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. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name. However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately.
McMahon’s departure came after former WWE employee Janel Grant filed a lawsuit against him, WWE, and former executive John Laurinaitis.
The lawsuit states that McMahon sexually exploited her and trafficked her to other men, including Laurinaitis.
