Stephanie McMahon and Nick Khan have been named co-CEOs of WWE on Monday adhering to the retirement of Vince McMahon.

The WWE and its Board of Administrators also declared Stephanie McMahon was appointed Chairwoman of the Board though Khan will continue on to be a board member.

"We are grateful for the chance to direct WWE collectively with our unmatched administration group," McMahon and Khan mentioned in a joint statement. "We identify this is a remarkable chance and responsibility, and we look ahead to serving the WWE Universe."

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Vince McMahon, Stephanie McMahon and Triple H go to the UFC 276 celebration at T-Cell Arena on July 02, 2022 in Las Vegas, Nevada. (Jeff Bottari/Zuffa LLC)

Paul Levesque, better recognised as Triple H in the wrestling ranks, will "presume all responsibilities similar to WWE’s imaginative, in addition to his regular obligations," the firm explained.

Stephanie McMahon is the daughter of Vince McMahon and has been with WWE given that 1999 appearing both as an on-display performer and as a higher-rating government.

WWE Executive Vice President of Expertise, Are living Situations and Imaginative Paul "Triple H" Levesque speaks at a WWE news conference at T-Cellular Arena on Oct 11, 2019 in Las Vegas, Nevada. (Ethan Miller/Getty Images)

Khan joined WWE in 2020 after spending years as the head of the television section at CAA.

Vince McMahon, who recently stepped down as CEO of WWE after a barrage of misconduct allegations, has introduced his retirement from WWE.

"As I strategy 77 yrs old, I experience it is time for me to retire as chairman and CEO of WWE," he mentioned in a statement.

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"Throughout the decades, it’s been a privilege to aid WWE bring you joy, inspire you, thrill you, surprise you and always entertain you. I would like to thank my spouse and children for mightily contributing to our achievements, and I would also like to thank all of our past and existing superstars and staff for their commitment and enthusiasm for our manufacturer.

"Most importantly, I would like to thank our enthusiasts for making it possible for us into your residences each 7 days and getting your selection of enjoyment."

Vince McMahon attends a push conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.  (Michael N. Todaro/Getty Images)

McMahon's retirement will come next a July Wall Street Journal report that McMahon paid out about $12 million in the earlier 16 many years to "suppress allegations of sexual misconduct and infidelity."

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McMahon bought the company from his father in 1982 and turned it into the billion-greenback brand that it is right now.

WHD News’ Joe Morgan contributed to this report.