Stephanie McMahon resigns as WWE co-CEO after father Vince McMahon returns from retirement

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WWE co-CEO and chairwoman Stephanie McMahon is stepping down. 

McMahon announced her resignation in a statement shared on Twitter Tuesday, just days after her father Vince McMahon returned to the company as executive chairman following an investigation into sexual misconduct allegations. 

“I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid,” Stephanie McMahon wrote. “I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.”

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McMahon and Nick Khan were named co-CEOs in July following Vince McMahon’s retirement from the company. Khan will serve as the company’s sole CEO and McMahon’s husband, Paul “Triple H” Levesque, will continue in his role as chief content officer.

“I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon said in a WWE press release on Tuesday. “I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.”

REPORT: WWE’s Vince McMahon paid $12 million to four women, used NDAs to hush sexual misconduct allegations

VINCE MCHAHON announces retirement as WWE chairman and CEO

Vince McMahon stepped aside as WWE chief executive and chairman on June 7 after The Wall Street Journal reported the board was investigating a secret $3 million settlement to pay to an employee with whom he allegedly had an affair. Vince McMahon announced his retirement a month later after more allegations of paid hush money surfaced.

The WWE announced in November that a special committee formed to investigate the allegations against Vince McMahon completed its probe and was disbanded. The findings weren’t released, but the company said “management is working with the board to implement the recommendations of the special committee.”

Vince McMahon, who remained a majority shareholder in his retirement, engineered a board shakeup upon his return last week. Three board members — JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler — were ousted to make room for Vince McMahon and two other board members, Michelle Wilson and George Barrios. 

He was unanimously elected as the board’s executive chairman on Tuesday, the WWE announced in a press release.   

Contributing: Chris Bumbaca, The Associated Press 

This article originally appeared on USA TODAY: Stephanie McMahon resigns as WWE co-CEO after father Vince McMahon returns from retirement