Mismanagement probe: WWE CEO resigns

Vince McMahon, chairman and chief executive officer (CEO) of professional wrestling company WWE, has resigned following an investigation into mismanagement.

According to the British news agency Reuters, the WWE said on Friday that it has launched an investigation into the alleged misconduct against the company's chairman and chief executive Vince McMahon.

The company said McMahon had voluntarily resigned as CEO and chairman until the investigation was completed.

However, his 45-year-old daughter, Stephanie, will be the company's interim CEO and chairwoman.

The company's investigative board is reportedly investigating an alleged  3 million deal in which McMahon agreed to pay a retiring employee.

McMahon reportedly had an affair with the maid.

McMahon, on the other hand, did not respond directly to the allegations but promised in a statement that he would cooperate fully with the investigation.

The company said in a statement that the board had hired an independent legal adviser to assist in the investigation.

In addition, McMahon will continue to fulfill his responsibilities regarding WWE's creative content during the investigation.