Vince McMahon announced his retirement as Chairman and CEO of World Wrestling Entertainment on Twitter Friday afternoon.

The businessman has become the subject of scrutiny, after the Wall Street Journal reported on July 8 that McMahon paid $12 million to four women in order to keep sexual misconduct allegations a secret.

His daughter Stephanie McMahon and co-CEO Nick Khan will now be overseeing the company.

“As I approach 77 years old, I feel it’s time for me to retire as chairman and CEO of WWE,” McMahon said in a statement, according to Fox News.

“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,” he said.

McMahon continued: “Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”

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

— Vince McMahon (@VinceMcMahon) July 22, 2022

This was not the only major staffing change at WWE on Friday, as Hall of Famer “Triple H” announced that he will be returning as the executive vice president of talent relations.

“I’m healthy, fired up and ready to take charge,” he said in a statement.

Paul "Triple H" Levesque will resume his executive position as EVP, Talent Relations.

“I look forward to returning to my prior position as head of Talent Relations. I’m healthy, fired up, and ready to take charge,” said Levesque. pic.twitter.com/trpRzws4uD

— Denise 'Hollywood Superstar' Salcedo (@_denisesalcedo) July 22, 2022