-

WWE fires its top two executives in major shakeup as stocks plunge 22%

WWE’s Board of Directors fired the two Co-Presidents, George Barrios and Michelle Wilson, effective immediately, and in the process sent the WWE stocks plunging in a massive free fall.

“I would like to thank George and Michelle for their 10+ years of service and contributions to the organization,” said WWE Chairman and CEO Vince McMahon. “I am grateful for all that was accomplished during their tenure, but the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward.

Barrios was the Chief Financial Officer for the company while Wilson, one of the most powerful women working for WWE, was the Chief Marketing Officer. Both were given the Co-Presidents titles in 2018 with added responsibilities.

Barrios had been employed since 2008 and Wilson since 2009. They are also no longer part of the Board of Directors.

Frank A. Riddick III, who has served as a member of WWE’s Board of Directors for more than 11 years, has been named interim Chief Financial Officer, reporting to McMahon. WWE has commenced a search for both a permanent Chief Financial Officer and Chief Revenue Officer.

Their dismissal comes a week before WWE announces their Q4 and full year financial results for 2019, signaling more bad news on the horizon.

WWE stocks went into a big free fall after trading hours closed, with their value losing almost $14 each share, ending the day 22% down.

Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

LATEST NEWS

The Godfather discusses BSK reunion at the Survivor Series

Charles "The Godfather" Wright said that the Bone Street Krew rolled back time during their reunion last weekend in...

Rogers Communications issues statement on SkyDome story

Following the report on The Globe and Mail about the plans to tear down the SkyDome for a new...

Smackdown rating for 11/27/2020

Smackdown had a drop in viewership this week, getting an average of 1,986,000 viewers in the overnight ratings, down...

- Advertisement -

Stories you might also likeRELATED
Recommended to you