WWE chief Vince McMahon to retire

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McMahon was being investigated by the board for a secret $3 million settlement that he had agreed to pay to a departing employee with whom he allegedly had an affair, the Wall Street Journal had previously reported.

A spokesperson for WWE declined to comment.

The company, which produces and distributes weekly wrestling shows “Raw” and “Smackdown”, had named his daughter Stephanie McMahon as the interim head.