Vince McMahon, the former CEO of TKO, the parent company of WWE and UFC, has stepped down from his position following a sexual assault lawsuit filed against him by a former employee.
The TKO staff received a memo on Friday night announcing McMahon’s resignation.
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name,” McMahon said in a statement.
However, McMahon also stated that “out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately,” he continued.
Additionally, the accuser’s attorney has provided additional statements regarding her client’s intentions.
“Ms. Grant hopes that her lawsuit will prevent other women from being victimized. The organization is well aware of Mr. McMahon’s history of depraved behavior. It’s time that they take responsibility for the misconduct of its leadership,” Ann Callis noted.