Former WWE chairman Vince McMahon has stepped down as the executive chairman of TKO, the parent company of the wrestling promotion. The decision follows a lawsuit accusing McMahon of orchestrating a pattern of abuse, including allegations of forcible sex, against Janel Grant, a former WWE employee.
According to Fightful, an internal memo sent by WWE’s Nick Khan revealed McMahon’s resignation from his roles as TKO Executive Chairman and from the TKO Board of Directors. McMahon will no longer be associated with TKO Group Holdings or WWE.
The company’s official statement on the matter is brief and comes shortly after Slim Jim decided to pause its advertising for the upcoming Royal Rumble, one of WWE’s major annual events.
Slim Jim stated, “Given the recent disturbing allegations against Vince McMahon, at this time, we’ve decided to pause our promotional activities with WWE. This decision reflects our commitment to our brand values and responsibility to our community.”
In response, McMahon issued a statement continuing to deny the allegations while expressing his resignation “out of respect” for the company, its partners, and its fans.
He asserted, “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.”
Despite previously retiring from WWE in July 2022 amid a misconduct investigation, McMahon later voted himself back onto the board ahead of the company’s sale to TKO, the parent company of UFC.
