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WWE has confirmed that Stephanie McMahon has been named interim CEO and interim Chairwoman of the company whilst it deals with its internal investigation.
Independent directors are continuing their review of alleged executive misconduct committed by former Chairman and CEO Vincent McMahon.
WWE states that Vincent McMahon has 'voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.
He will retain his role and responsibilities related to WWE’s creative content during this period and remains committed to cooperating with the review underway.
In a short statement, Vincent MacMahon said: "I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation.
"I have also pledged to accept the findings and outcome of the investigation, whatever they are."
Speaking of her new role, Stephanie wrote on Twitter: "Until the conclusion of the investigation into recent allegations, I am honored to assume the role of interim Chairwoman & CEO.
"I love WWE and all it continues to do to entertain billions around the world."
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Stephanie McMahon, 45, had recently announced a leave of absence from the company and "major responsibilities" with the wrestling brand.
The 45-year-old had announced the leave just months after husband and former professional wrestler Triple H suffered a "cardiac event" in September last year.
Her return and subsequent new role as interim CEO of the World Wrestling Entertainment brand comes amid allegations put to Vincent McMahon over a £2.4million hush pact.
The board of World Wrestling Entertainment are said to be investigating a £2.4million ($3million) hush money settlement over an alleged affair between Vincent McMahon and a former WWE employee.
A spokesperson for the company said that the company is cooperating with the board's investigation.
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