WWE has provided an update on their investigation into Vince McMahon during today’s earnings call, and confirmed that John Laurinaitis has been released from his position.
The company held their financial call and released their Q2 earnings report on Tuesday. Wrestling Inc reports that during the call, Chief Financial and Administrative Officer Frank Riddick confirmed that Laurinaitis had been released.
The former EVP of Talent Relations had been named in the allegations against McMahon in the Wall Street Journal.
In addition, Riddick confirmed that McMahon had “resigned” and said that McMahon would be paying for the costs incurred into the company’s investigation into him.
WWE had to make revisions to their financials due to the undisclosed payments that McMahon made, and Riddick noted that $1.7 million was spent on the investigation as well as well as anything else paid by WWE that was not covered by insurance.
McMahon announced his retirement from WWE on July 22nd. He has been replaced as CEO by co-CEOs Stephanie McMahon and Nick Khan, with Triple H now serving as the head of creative.