Vince McMahon announced Friday that he is retiring as the chairman and CEO of World Wrestling Entertainment.
“As I approach 77 years old, I feel it’s time for me to retire as a Chairman and CEO of WWE.” “Throughout the years, it’s been a privilege to help WWE bring you joy, inspire, thrill, surprise, and always entertain you.”
“I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand.”
He also announced his retirement on Twitter as well.
In 1982, he purchased the company from his father, Vincent J. McMahon, serving as its face ever since.
As a result of Vince’s Attitude Era in the 1990s, professional wrestling became mainstream. This helped Superstars like The Undertaker, John Cena, Big Show, Kane, The Rock, ‘Stone Cold’ Steve Austin, Hulk Hogan, Triple H, Chyna, and more become household names.
As well as being the mastermind behind WrestleMania, the billionaire also heads the WWE, which just celebrated its 38th anniversary.
In 2001, McMahon acquired WWE’s biggest competitor, World Championship Wrestling, making his company the dominant organization in professional wrestling. He concluded,
“I want to thank our fans for allowing us into your homes every week and making us your entertainment choice. I hold the deepest appreciation and admiration for our generations of fans worldwide who have liked, currently like, and sometimes even love our form of Sports Entertainment.”
Vince stepped down from his role as chairman and CEO following an investigation into alleged misconduct. Stephanie, his daughter, was named interim CEO and interim chairwoman.