WWE Says CEO Vince McMahon to Step Back During Misconduct Probe

World Wrestling Entertainment Inc. said Chief Executive Officer Vince McMahon will step back from his duties while the board investigates allegations of misconduct by him and another executive.

McMahon, who is also chairman, will retain his responsibilities related to the company’s creative content during the period, according to a statement Friday. Stephanie McMahon was appointed by a special board committee to serve as interim CEO and interim chairwoman.

“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” Vince McMahon said in the statement. “I have also ...