WWE CEO Vince McMahon will resign during an investigation into alleged sexual misconduct.

As the public face of the organization, McMahon will continue to oversee creative content throughout the investigation, World Wrestling Entertainment said on Friday.

Stephanie McMahon, Vince’s daughter, will serve as Interim CEO and President for the time being. She had served as the company’s brand director before taking the temporary position.

WWE has been investigating an alleged $3 million payment from McMahon to an employee after they had an affair.

Since it began in April, the investigation has found other non-disclosure agreements for other female WWE employees due to misconduct by McMahon and Juan Laurinaítis , head of talent relations, who is also under investigation.

“I have pledged my full cooperation with the special committee’s investigation and will do everything I can to support the investigation,” McMahon said in a prepared statement Friday.

McMahon has been the face of the organization since buying the franchise from his father in 1982. Since taking over, the organization’s events are now held in professional stadiums, building a large international following and creating WrestleMania. , which attracts millions of enthusiastic viewers. .

The company’s revenue last year exceeded $1 billion, with deals with Fox and NBCUniversal and it recently announced a multi-year deal with A&E.

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