Vince McMahon, chairman and CEO of World Wrestling Entertainment, announced his resignation on Friday.

After taking over for his father in 1982, McMahon, who turns 77 next month, oversaw the WWE for 40 years.

McMahon said in a statement, "I want to thank our fans for letting us stay inside our homes every week

"I have the utmost respect and affectio CEO and Chairman of WWE, has announced his retirement.n for our generations 

In the light of allegations that he paid more than $12 million to four women, McMahon announced his resignation.

Following a Wall Street Journal story that the corporation was looking for a secret settlement worth $3 million,

McMahon resigned from his position as chairman and CEO on Ju CEO and Chairman of WWE, has announced his 17.

WWE will continue to thrill you with the same fire, dedication, and emotion as always, so our global fans can rest easy.