Vince McMahon announces retirement from WWE amid silent money scandal

World Wrestling Entertainment impresario Vince McMahon announces his retirement.

In a brief statement released by the company on Friday, McMahon said he was retiring as Chairman and CEO of WWE. He specifies that he remains his majority shareholder.

McMahon resigned temporarily as CEO and Chairman of WWE in mid-June during an investigation into alleged misconduct.

Earlier this month, The Wall Street Journal reported that McMahon had agreed to pay more than US$12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.