TAMPA, Fla. (WFLA) – Vince McMahon is retiring from World Wrestling Entertainment.

The announcement was made via the former chairman and CEO’s official Twitter account just after 4 p.m. on Friday.

“At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together. #WWE #thankful,” the tweet says.

WWE released a statement on its corporate website by McMahon shortly after the tweet.

“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. 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. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.

Vince McMahon

McMahon goes on to say in the statement that he is confident in the “continued success” of the company.

His daughter, Stephanie McMahon and Nick Khan will act as Co-CEOs of the company, with Stephanie McMahon as chairwoman.

“As the majority shareholder, I will continue to support WWE in any way I can,” Vince McMahon said. “My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”

On June 17, McMahon, 76, stepped back from his leadership position as the company investigated misconduct claims against him that were first made public by the Wall Street Journal.

Vince McMahon continued to work in a position with WWE creative, which oversees storylines of its weekly television programs.

Another Wall Street Journal report released at the beginning of June revealed McMahon allegedly paid millions of dollars to multiple employees to cover up allegations of sexual misconduct.

After the WSJ reports were released, McMahon made multiple appearances on WWE TV.

McMahon took over the company from his father in 1982.