Vince McMahon steps aside as WWE chairman

Vince McMahon is stepping aside from his role as CEO and chairman of World

Wrestling Entertainment during an investigation into a report that he agreed to

pay hush money to a former employee over an alleged affair, the company announced Friday.

WWE said in a release that a "Special Committee of the Board is conducting an

investigation into alleged misconduct by its Chairman and CEO Vincent

McMahon and John Laurinaitis, head of talent relations, and that, effective

immediately, McMahon has voluntarily stepped back from his responsibilities as

CEO and Chairman of the Board until the conclusion of the investigation.

McMahon is cooperating with the inquiry, WWE said