During an investigation into suspected misbehaviour, McMahon resigned immediately as WWE's CEO and chairman in mid-June.
The Wall Street Journal recently reported that McMahon agreed to pay more than $12 million over the last 16 years to settle claims of sexual misbehaviour and adultery.
"It's time for me to retire at the age of 77."
Thank you very much, WWE Universe.
Before and after.
Eternity.
Together.
On Twitter, he tweeted, "#WWE #thankful."
The probe was not mentioned in the company's announcement, which was issued in Stamford, Connecticut.
Stephanie McMahon, who was appointed temporary CEO and chairperson last month, will serve as chairman and split CEO responsibilities with Nick Khan, who joined the firm in 2020, according to McMahon.
"Our global audience may take solace in the knowledge WWE shall strive to thrill everyone with much the same enthusiasm, devotion, and enthusiasm as it always is," he said in a statement, thanking WWE's generations of fans worldwide.