McMahon announces his retirement

World Wrestling Entertainment's chief executive officer and chairman, Vince McMahon, announced his retirement on Friday at the age of 77.

McMahon tweeted that it was time for him to retire at the age of 77. He then thanked the WWE universe for its support.

McMahon stepped down from his duties last month amid allegations that he paid former employees up to $12 million in hush money.

According to McMahon, it has been a pleasure to help WWE bring joy, inspire, thrill, surprise, and always entertain you over the years.

In addition, he thanked his family, the current and former WWE superstars, as well as the fans for allowing the company into their homes every week.

It is my pleasure to pass WWE on to an extraordinary group of Superstars, employees, and executives - in particular, Stephanie McMahon and Nick Khan - who will continue to lead the company to success.

I am thankful to my fellow community members, business partners, shareholders, and the Board of Directors for their guidance and support over the years. Then. Now. Forever. Together."