WWE announces co-CEOs following Vince McMahon's retirement

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Stephanie McMahon and Nick Khan were named co-CEOs of WWE on Monday following the retirement of Vince McMahon.

The WWE and its Board of Directors also announced Stephanie McMahon was appointed Chairwoman of the Board while Khan will continue to be a board member.

"We are grateful for the opportunity to lead WWE together with our unmatched management team," McMahon and Khan said in a joint statement. "We recognize this is a tremendous opportunity and responsibility, and we look forward to serving the WWE Universe."

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Vince McMahon, Stephanie McMahon and Triple H attend the UFC 276 event at T-Mobile Arena on July 02, 2022 in Las Vegas, Nevada. (Jeff Bottari/Zuffa LLC)

Paul Levesque, better known as Triple H in the wrestling ranks, will "assume all responsibilities related to WWE’s creative, in addition to his regular duties," the company said.

Stephanie McMahon is the daughter of Vince McMahon and has been with WWE since 1999 appearing both as an on-screen performer and as a high-ranking executive.

WWE Executive Vice President of Talent, Live Events and Creative Paul "Triple H" Levesque speaks at a WWE news conference at T-Mobile Arena on October 11, 2019 in Las Vegas, Nevada. (Ethan Miller/Getty Images)

Khan joined WWE in 2020 after spending years as the head of the television department at CAA.

Vince McMahon, who recently stepped down as CEO of WWE after a barrage of misconduct allegations, has announced his retirement from WWE.

"As I approach 77 years old, I feel it’s time for me to retire as chairman and CEO of WWE," he said in a statement.

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"Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present superstars and employees for their dedication and passion for our brand.

"Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment."

Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.  (Michael N. Todaro/Getty Images)

McMahon's retirement comes following a July Wall Street Journal report that McMahon paid over $12 million in the past 16 years to "suppress allegations of sexual misconduct and infidelity."

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McMahon bought the company from his father in 1982 and turned it into the billion-dollar brand that it is today.

Fox News’ Joe Morgan contributed to this report.