Vince McMahon steps back from WWE roles amid misconduct allegations | Daughter Stephanie named interim CEO

Vince McMahon has voluntarily stepped back from his role as CEO and chair of WWE amid misconduct allegations.

WWE and its board of directors confirmed the move on Friday, with Vince's daughter Stephanie McMahon stepping in to serve as interim CEO and interim chair.

A special committee of the WWE's board is conducting an investigation into alleged misconduct by Vince McMahon and head of talent relations John Laurinaitis.

"I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation," said Vince McMahon, who will retain his role and responsibilities related to WWE's creative content during this period.

"I have also pledged to accept the findings and outcome of the investigation, whatever they are."

Stephanie McMahon added: "I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace.

"I have committed to doing everything in my power to help the Special Committee complete its work, including marshalling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings."

The WWE's statement added: "WWE and its Board of Directors take all allegations of misconduct very seriously. The Independent Directors of the Board engaged independent legal counsel to assist them with an independent review.

"In addition, the Special Committee and WWE will work with an independent third-party to conduct a comprehensive review of the company's compliance program, HR function and overall culture."

Vince McMahon and wife Linda McMahon founded the company now known as WWE back in 1980.