WWW’s Vince McMahon is back after misconduct investigation

By MICHELLE CHAPMAN
AP Business Writer

Vince McMahon is rejoining the board of WWE several months after he retired from the sports entertainment company during an investigation into alleged misconduct. Shares surged more than 22% Friday. WWE said Friday that McMahon, the founder and majority shareholder of WWE, would return as executive chairman. It also announced a board shakeup. McMahon retired as WWE’s chairman and CEO in July. He had stepped down temporarily from the posts a month earlier. The Wall Street Journal reported over the summer that McMahon agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity. The company said that it would be looking at “all strategic alternatives to maximize shareholder value.”