WWE Chairman Vince McMahon during Donald Trump and WWE News Conference for WrestleMania 23 - March 28, 2007 at Trump Tower in New York City, New York, United States. (Photo by Jamie McCarthy/WireImage)

Many wrestling fans know Vincent Kennedy McMahon as Mr Mcmahon, the tyrant power crazed CEO of WWE that he portrayed on tv.  Now he will be stepping down as CEO due to the board of WWE investigating a rumor that Vince McMahon paid $3 million in hush money to an ex employee over an alleged affair that the 2 of them had a while ago.

“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in the statement. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”

(Photo by George Napolitano/Getty Images)

Vince’s daughter Stephanie will take over as interim CEO while this investigation is going on.

WWE said Friday that it takes “all allegations of misconduct very seriously” and it has engaged independent legal services to assist with the review. A third party will also “conduct a comprehensive review of the company’s compliance program, HR function and overall culture.”

 (Photo by John W. Ferguson/WireImage)