Vince McMahon Retirement Draws Conspiracy Theories from WWE Fans

Chairman and CEO of WWE Vince McMahon announced his retirement from the post at the age of 77.

McMahon said in a statement that it had been a privilege to help WWE bring the audience joy, inspiration, thrill, and surprises.

The World Wrestling Entertainment is now passing the position to his daughter Stephanie who will be co-CEO with WWE president Nick Khan. Meanwhile, Stephanie will also take over as chairwoman of WWE. She is also acting as interim CEO.

McMahon's announcement came as a "major surprise" as it signifies a huge change in the professional wrestling industry.

Vince McMahon WWE

ESPN News reported that McMahon has since been a fixture since buying WWE from his father in the 1980s. He then built it into a billion-dollar brand with a worldwide reach.

On June 17, McMahon gave up his role as chairman and CEO in light of the Wall Street Journal report that revealed WWE bord investigation into a secret $3 million settlement given to a former WWE paralegal from McMahon. Since then, his daughter, Stephanie, has taken over as interim CEO.

WWE also announced Paul Levesque, known by his moniker Triple H, will be coming back as EVP, Talent Relations. It is unclear if Triple H's come-back is related to McMahon's retirement.

The WWE boss's retirement comes as he is alleged to have paid more than $12 million to four women in a 16-year span to mute any claims of "sexual misconduct and infidelity," according to a USA Today News report. All four women used to work for McMahon at WWE and signed non-disclosure agreements that prohibited all of them from filing any legal action or divulging information publicly about their experiences with McMahon.

It was first reported by The Wall Street Journal, which cited sources familiar with the matter and has reviewed the documents. The biggest amount was worth $7.5 million, which was paid to a former wrestler who left the company when McMahon did not renew her contract in 2005.

The former female wrestler noted that she resisted further sexual encounters after the WWE chairman had coerced oral sex.

Vince McMahon Retirement Reactions

Product Operations Manager for SBNation, Bill Hanstock, tweeted about McMahon's retirement, saying that people should stop reporting McMahon as leaving the company.

Hanstock said that the announcement of McMahon's retirement might only mean that he is stepping down as chairman and CEO of WWE.

Brian Floyd quote tweeted McMahon's announcement of his retirement with a GIF of a burning car.

Podcaster David Bixenspan echoed Hanstock's concern, saying that McMahon's announcement does not say anything about stepping down from creative roles.

He added that McMahon does not have an official title for creative. Brandon Ross of Light Shed ventures speculated that McMahon stepping down from WWE as an executive also means that he is giving up the Head of Creative role.

A Twitter user with the handle @WorldofIsaac noted that one cannot tell for sure if McMahon will be retiring.

He then referred to a 2007 incident McMahon faked his own death.

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: WWE CEO Vince McMahon retires amid alleged sexual harassment claims - from Yahoo Finance