Vince McMahon announced his resignation as TKO Executive Chairman and from the TKO Board of Directors about two weeks ago, and we are still getting new information. This decision came shortly after former employee Janel Grant filed a lawsuit against McMahon, WWE, and former executive John Laurinaitis on January 25th. McMahon was also advised to resign by some very powerful people.
Vince McMahon Was Advised To Resign From WWE
The lawsuit from Grant accused McMahon of various offenses, including sex trafficking, emotional abuse, and sexual assault, garnering significant mainstream attention. That bombshell lawsuit also went public shortly after The Rock joined the TKO Board of Directors and WWE announced that Raw would be moving to Netflix in 2025.
According to The Hollywood Reporter, TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro urged McMahon to resign in light of the allegations, although he denied them. McMahon remains under federal investigation in addition to facing the lawsuit.
Those concerns culminated the evening of Jan. 26, when Emanuel and TKO president and COO Mark Shapiro called McMahon and told him it would be in the best interest of the company for him to resign. He agreed, and submitted his resignation. “He will no longer have a role with TKO Group Holdings or WWE,” WWE president Nick Khan wrote in a memo to staff at 8:30 p.m. that evening, announcing McMahon’s resignation to employees.
Slim Jim’s Situation
Slim Jim initially paused its promotional partnership with WWE ahead of the Royal Rumble. That could have been a slippery slope of sponsors leaving WWE, but Vince put a stop to that with his resignation.
Slim Jim released a statement on the matter after they re-entered the WWE fold later on. It was made very clear that Vince McMahon’s resignation was the catalyst for the return to their previous sponsorship arrangement.
“After the departure of Vince McMahon, and discussions with WWE TKO senior leadership, Slim Jim has decided to re-enter the Royal Rumble.”