Vince McMahon, CEO of WWE, has announced his retirement amid a misbehaviour investigation.

Vince McMahon, the owner of World Wrestling Entertainment, made the announcement on Friday.

He is retiring amid an investigation into alleged misconduct by the flamboyant showman.

McMahon announced his resignation as chairman and CEO of WWE in a brief statement. 

During an enquiery into alleged misconduct, McMahon stepped down temporarily as WWE's CEO and chairman in mid-June.

The Wall Street Journal reported earlier this month that McMahon agreed to pay more than $12 million to settle allegations of sexual misconduct and infidelity.

It's time for me to withdraw at the age of 77. Thank you so much, WWE Universe. he wrote on Twitter.

The investigation was not mentioned in the company's statement, which was issued in Stamford, Connecticut.

Stephanie McMahon, who was named temporary CEO and chairman last month, will serve as chairperson and share CEO duties with Nick Khan

"Our global audience can relax knowing that WWE will continue to entertain you with the same zeal, dedication, and passion as before."

" In the statement, he thanked WWE's generations of fans all over the world.