Vince McMahon, chairman and CEO of Stamford-based World Wrestling Entertainment, announced Friday that he will retire.
McMahon posted on Twitter, "At 77, time for me to retire. Thank you WWE Universe."
According to the Wall Street Journal, McMahon agreed to pay a secret $3 million settlement to a former employee he allegedly had an affair with.
WWE announced on Twitter that Paul "Triple H" Levesque would resume his executive position as EVP of talent relations.