Vince McMahon steps back from WWE CEO role amid alleged misconduct investigation; Stephanie McMahon takes over

In a shocking turn of events to rock the world of WWE, Vince McMahon has stepped back

from his role as WWE CEO and Chairman of the Board,

with Stephanie McMahon appointed as interim CEO and interim Chairman.

This decision comes in lieu of an investigation underway into alleged misconduct

by Vince McMahon and John Laurinaitis, Head of Talent Relations for WWE.

WWE and its Board of Directors jointly released a statement, on June 17, on WWE's corporate website regarding Vince McMahon's alleged misconduct.

They stated, "WWE (NYSE: WWE) and the Board of Directors today announced

that a Special Committee of the Board is conducting an investigation into alleged misconduct

by its Chairman and CEO Vincent McMahon and John Laurinaitis,