WWE Chairman and CEO Vince McMahon is stepping back from his duties as the company’s board investigates alleged misconduct by the executive.

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Hours after the announcement, the WWE tweeted that McMahon would appear live on the company’s “Smackdown” show Friday night on Fox. 

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The controversy started after The Wall Street Journal reported that the WWE board was looking into McMahon for paying a former employee $3 million to keep her quiet about an alleged affair between the two of them. 

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According to the press release, McMahon will remain involved in the company's creative content. 

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McCahon said in a press release on Friday. "I have also pledged to accept the findings and outcome of the investigation, whatever they are." 

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Stephenie McMahon, McMahon's daughter, will become interim chairman and CEO. 

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McCahon bought the company from his father 40 years ago and has orchestrated its growth into a global.

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