Vince McMahon resigns from WWE after allegations of sexual assault

Embattled wrestling mogul Vince McMahon resigned Friday from the WWE, the company he founded six decades ago, following allegations of sexual assault made public in a lawsuit a day earlier.

The announcement was made Friday evening in a message to staff by Nick Khan, president of the WWE and a member of the board of directors for TKO, the global conglomerate that owns the wrestling giant.

"Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors," Kahn wrote in the message provided to CBS News. "He will no longer have a role with TKO Group Holdings or WWE."