On Monday, WWE completed its latest quarterly filing with the SEC which confirmed that the company’s Board of Directors’ investigation into the former CEO Vince McMahon’s hush money scandal has been “substantially” completed. The investigation first went under in April and was made public in June. The investigation looked into McMahon’s NDAs with former employees that kept sexual misconduct allegations from becoming public.
A portion of the filing reads, “On June 17, 2022, the Company and its Board of Directors announced that a special committee of independent members of our Board of Directors (the Special Committee) was formed to investigate alleged misconduct by the Company’s former Chairman and Chief Executive Officer, Vincent K. McMahon. The Special Committee investigation is substantially complete,” per Comicbook.
Meanwhile, in late July, McMahon announced his retirement from all his positions at the company and to replace him, WWE has since promoted Stephanie McMahon and Nick Khan as the Co-CEOs with Paul Levesque aka Triple H welcomed on board as the new Head of Creative and Head of Talent Relations. The statement further continued, “Together, these unrecorded expenses total $19.6 million (the ‘Unrecorded Expenses’). All payments underlying the Unrecorded Expenses were or will be paid by Mr McMahon personally. The Company has determined that, while the amount of Unrecorded Expenses was not material in any individual period in which the Unrecorded Expenses arose, the aggregate amount of Unrecorded Expenses would be material if recorded entirely in the second quarter of 2022.”
