Vince McMahon Temporarily Steps Down as WWE Chariman and CEO
Stephanie McMahon is now the Interim Chairwoman and CEO
When it comes to professional wrestling, the words “expect the unexpected” seem to be more accurate than any other sport. No, I’m not getting into the debate about whether or not pro wrestling is, in fact, a sport. It is a perfect blend of sports and entertainment, the focus specifically on the latter. This morning, the man who has combined his two passions and turned it into a global phenomenon has temporarily stepped down: Vincent Kennedy McMahon.
This past week, a scandal has rocked WWE. As first reported by the Wall Street Journal, the WWE board is looking at a secret $3 million settlement with someone whom McMahon supposedly had an affair with. Several NDAs were found by the board, starting in April. It was also noted in the article itself that one of Vince’s top executives, John Laurinaitis, was also under investigation for misconduct.
Almost immediately, the wrestling community wondered about a potential backlash from this story. Who would be the fall guy, McMahon or Laurinaitis? Would either of them lose their jobs because of this? Plus, McMahon has survived scandals in the past. Who’s to say he won’t survive this one?
So, let’s take these questions one at a time. The “fall guy” turned out to be McMahon, who is taking a leave of absence during the investigation. With that said, his replacement for the time being is his daughter, Stephanie. Several months ago, if Stephanie was revealed as the temporary chairwoman and CEO, it would not come as much of a shock to the WWE Universe. However, less than a month ago, she took her own leave of absence from WWE, stressing a focus on her family. It’s always nice to see Stephanie back in the mix, but to say this was unexpected would be an understatement.
As of this writing, neither McMahon nor Laurinaitis have been removed from their position on a full-time basis because of this. There were reports that Laurinaitis was more likely to go than the Chairman, but this has not been confirmed.
Indeed, Vince McMahon has seen his fair share of controversies over the years. Going back to the early 1980s, the McMahons, Vince and Vince Sr., turned the then-WWF into a global empire, essentially ending the territorial days of pro wrestling. Some have still not forgiven the McMahons for this nearly forty years later.
In 1993, the steroid scandal was next to hit WWE. Vince was accused of giving anabolic steroids to his wrestlers. In July of 1994, McMahon was found not guilty. Over a two-year stretch between 2005 and 2007, McMahon oversaw three contracted wrestlers pass away within his company, albeit under completely different circumstances. Eddie Guerrero’s passing brought about sweeping changes to the WWE drug policy, while the Chris Benoit incident led the company to cut down on chair shots to the head, one of the causes of CTE. That same year, WWE went through another steroid debacle.
This does not include any of his on-screen incidents, such as controversial storylines and the Montreal Screwjob. It’s safe to say that this is not the first time we’ve seen McMahon go through trials and tribulations. With that said, this is probably the first time since 1994 that his status within the company could be in serious jeopardy.
Tonight on SmackDown, Vince McMahon will make an on-screen appearance, reportedly in character. Speculation has run rampant on what he could say, but if it means that McMahon appears on his programming in 2022, it has to be important. One thing is certain about this appearance, however. It will cause a boost to ratings that SmackDown has desperately needed.
On the positive side, I’m excited to see how Stephanie runs the company for the time being. She’s always been knowledgeable of the business, both from a behind-the-scenes and on-air position. With her husband, Triple H, now working as a WWE executive, it was an easy decision to have her take over. Hopefully, after the investigation wraps up, Stephanie gets her well-deserved break.
Vince has been the face of WWE for years, and when something rocks the company, it usually goes through Vince. This time, the issue in question involves not just McMahon, but one of his top executives as well. Stocks have decreased significantly following the Wall Street Journal article. Could this be what causes McMahon to permanently step down, or even sell the company he has made a household brand?
Much like the storylines that appear on McMahon’s programming, only time will tell.