MUMBAI: World Wrestling Entertainment Inc. Chief Executive Linda McMahon has stepped down from her post a day after joining the Republican field wanting to run against Connecticut Sen. Christopher Dodd.

WWE Chairman Vince McMahon will assume the additional duties of CEO, supported by "the seasoned executive management team already in place," the wresting entertainment and media company said.

The announcement came as WWE grapples with the weak economy and competition from sports such as kickboxing. Still, WWE‘s profit nearly tripled in the latest quarter amid cost cuts as revenue rose 7%.

Ms. McMahon is the fourth Republican to declare her candidacy, following former Rep. Rob Simmons, state Sen. Sam Caligiuri and former U.S. Ambassador to Ireland Tom Foley.