WWE Co-Presidents Leave Company

There has been a major behind the scenes shake-up in WWE today as Co-Presidents George Barrios and Michelle Wilson have left the company and will no longer sit on the Board of Directors.

This news comes at an interesting time as WWE is set to report its fourth quarter and complete financial results for last year in just seven days.

Frank Riddick, member of the WWE Board of Directors for over a decade has been named the interim Chief Financial Officer while WWE searches for a permanent CFO and CRO. Riddick will have to report directly to Vince McMahon.

Speaking of Vince McMahon, the Chairman of WWE had the following to say with regards to the departure of both Barrios and Wilson from the company:

“I would like to thank George and Michelle for their 10+ years of service and contributions to the organization,” Vince said. “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.

“We have a deep team of talented, experienced and committed executives across the organization, and the Board and I have great confidence in our collective abilities to create compelling content, engage our global fanbase across platforms, increase revenues, and drive shareholder value.”

Michelle Wilson was brought into WWE eleven years ago in 2009 as the Executive Vice President of Marketing. George Barrios was hired in March 2008 as WWE’s CFO.

Both worked hard on the launch of the WWE Network and have held prominent positions within the company for a number of years.

WWE’s full press release on the matter reads as follows:

WWE® Announces Management Transition

01/30/2020

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE: WWE) today announced that Co-Presidents George Barrios and Michelle Wilson will depart the company, effective immediately, and will no longer serve on its 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 WWE Chairman & CEO Vince McMahon. WWE has commenced a search for both a permanent Chief Financial Officer and Chief Revenue Officer.

WWE remains well positioned to continue its growth and operate effectively against its strategic priorities, including content creation and distribution, digitization, and localization in key markets around the world. The Company expects its full year 2019 Adjusted OIBDA to be approximately $180 million.

“I would like to thank George and Michelle for their 10+ years of service and contributions to the organization,” said 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.

“We have a deep team of talented, experienced and committed executives across the organization, and the Board and I have great confidence in our collective abilities to create compelling content, engage our global fanbase across platforms, increase revenues, and drive shareholder value.”

Riddick previously served as CEO for FloWorks International, LLC, JMC Steel Group, Formica Corporation, and Triangle Pacific Corp., and President/COO of Armstrong World Industries, Inc. He has also served in executive management positions, including Chief Financial Officer, Controller, Treasurer, and Vice President of Mergers and Acquisitions during a career that spans 40 years. Riddick also served as Compensation Committee Chairman and member of the Audit Committee as a part of WWE’s Board of Directors

• George Barrios
• michelle wilson
• Vince McMahon
• wwe

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