By Emilie Dorn, Diana Dasrath and Jamie Knodel —
NBC News
World Wrestling Entertainment founder Vince McMahon resigned from his position at the company and its parent company this Friday, a day after a former employee accused him in a lawsuit of sexual trafficking, abuse and assault.
McMahon tendered his resignation from his positions as president of TKO and from his seat on the TKO board of directors.
He will no longer play any role in wrestling promotion company WWE, the organization's president, Nick Khan, wrote in an email sent to employees Friday night.
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On Thursday, former WWE employee Janel Grant filed a lawsuit claiming she was “a victim of physical and emotional abuse, sexual assault and trafficking in WWE.”
“Today’s lawsuit seeks to hold accountable two WWE executives who sexually assaulted and trafficked plaintiff Janel Grant, as well as the organization that facilitated or turned a blind eye to the abuse and then swept it under the rug,” said his Attorney Ann Callis.
McMahon has rejected the allegations and said he hopes to clear his name.
Vince McMahon, during a ceremony announcing that Dwayne "The Rock" Johnson would join the board of directors of TKO, on January 23, 2024 in New York City. Michelle Farsi / Zuffa LLC / Getty Images
"I stand by my previous assertion that Ms. Grant's lawsuit is filled with lies, made-up obscene cases that never occurred, and is a vindictive distortion of the truth," he said in a statement Friday night.
"However, out of respect for the WWE universe, the extraordinary business of TKO and its board members and shareholders, partners and constituents, and all the employees and superstars who helped make WWE the global leader it is today, I have decided resign from my executive presidency and from the board of directors of TKO, with immediate effect,” he said.
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McMahon has not been criminally charged in connection with the lawsuit's allegations.
Prior to his resignation, TKO Group Holdings said that McMahon did not control TKO or oversee the day-to-day operations of WWE.
“While this matter predates our TKO executive team's tenure at the company, we take Ms. Grant's horrific allegations very seriously and are addressing this matter internally,” the company said in a statement.
Representatives for Grant did not immediately respond to a request for comment sent earlier Friday.
Grant's lawsuit includes allegations of sex trafficking, civil battery, intentional or negligent infliction of emotional distress, and negligence.
McMahon had resigned as CEO of WWE in 2022, after an investigation found that he had paid nearly $15 million to four women over 16 years to silence several allegations of sexual misconduct.
Even during that time, McMahon maintained control of the company as a majority shareholder.
In a November regulatory filing, WWE said, “Mr. McMahon can effectively exercise control over our affairs.”
The mogul was reinstated to the company's board of directors last year, World Wrestling Entertainment said.