The chief executive officer and chairman of World Wrestling Entertainment (WWE), Vince McMahon, announced his retirement at 77, a month after he stepped down from his duties over alleged sexual misconduct claims.

The WWE and its board of directors have now announced that Paul Levesque, better known as Triple H in the wrestling world, will assume all responsibilities related to WWE’s creative, in addition to his regular duties. Vince McMahon, who bought the company from his father in 1982 and turned it into a billion dollar business, was accused last month of paying over $12 million in the past 16 years to suppress allegations of sexual misconduct and infidelity. In an official statement announcing his retirement, McMahon said, “As I approach 77 years old, I feel it’s time for me to retire as chairman and CEO of WWE.”

“Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment,” he concluded.

At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful

— Vince McMahon (@VinceMcMahon) July 22, 2022

Proud and honored to work with the best talent in the world. https://t.co/polNi8n87C

— Triple H (@TripleH) July 22, 2022