WWE boss Vince McMahon resigns after sex trafficking trial

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World Wrestling Entertainment (WWE) boss Vince McMahon has resigned following sex trafficking allegations from a former employee.

Janel Grant alleges that Mr. McMahon and another former executive, John Laurinaitis, sexually assaulted and trafficked her to attract wrestling skills.

Mr. McMahon, 78, said in a statement that he had made the decision to resign as executive chairman of TKO, WWE's parent company.

He denied the allegations.

"I stand by my previous statement that Ms. Grant's trial is filled with lies, made-up lewd instances that never happened, and is a misrepresentation vindictive of the truth," Mr. McMahon said in a statement Friday.

He added: "Out of respect for the WWE Universe, "Extraordinary activity of TKO and its board members and shareholders, partners and constituents, as well as all the employees and superstars who have helped make WWE the global leader it is today, I have decided to resign from my position as Executive Chairman and from the Board of Directors of TKO, effective immediately."

In a staff memo obtained by ESPN, the WWE Chairman Nick Khan stated that "Vince McMahon has tendered his resignation from his position as Executive Chairman of TKO and as a member of the TKO Board of Directors."

"He will no longer have a role within the holdings of the TKO group or the WWE."

Ms. Grant, a former WWE employee, accused Mr. McMahon and Mr. Laurinaitis of trafficking...