I'm updating this post as the matches happen. 

Vince McMahon starts the show and announces that there will be a tournament to crown a new WWE Champion. He also says that John Cena will face severe consequences.

The Miz defeats Alex Riley
(Miz advances to semi-finals of tournament)

R-Truth defeats Jack Swagger
(R-Truth advances to semi-finals of tournament)

Kofi Kingston defeats Alberto Del Rio
(Kofi advances to the semi-finals of tournament) 

Rey Mysterio defeats Dolph Ziggler
(Rey advances to the semi-finals of tournament) 

Kelly Kelly's Team defeats The Bella Twins team 

The Miz defeats Kofi Kingston
(Miz advances to the finals of tournament) 

Rey Mysterio defeats R-Truth
(Rey advances to the finals of tournament) 

Vince McMahon comes outand announces that he is post-poning the title match. Vince then says lets get this over with, John Cena's theme hits and John Cena comes out. John rants on about Shawn Michaels and other stuff. Vince McMahon announces that John Cena is.... No wait. Triple H comes out. The WWE Board announces that Vince McMahon has been removed as Chairman. With HHH as his replacement. 

Cena is not fired. But Vince has been 'relieved of his duties'.

The show finishes with a "Thank You Vince" chant.

Source: I watched the show
Reported by:  Jack Johnson