Triple H To Run WWE Creative Following Vince McMahon Retirement

11 months ago by Sanchez Taylor

Triple H To Run WWE Creative Following Vince McMahon Retirement WWE

A major update on Triple H’s WWE role has emerged following Vince McMahon’s retirement.

Following the announcement that Vince McMahon was officially finishing up with WWE, there was a lot of speculation over the fate of the ‘Head of WWE Creative’ role.

While it was previously reported that Bruce Prichard would be heading up creative, WWE has confirmed that ‘Paul Levesque’ Triple H will be assuming all responsibilities related to WWE creative in a new statement:

STAMFORD, Conn., July 25, 2022 – WWE® (NYSE: WWE) and its Board of Directors today announced the appointment of Stephanie McMahon and Nick Khan as co-Chief Executive Officers. Ms. McMahon has also been appointed Chairwoman of the Board, and Mr. Khan will continue to serve as a member of the Board. These appointments follow Vince McMahon’s retirement announcement on Friday, July 22.

“We are grateful for the opportunity to lead WWE together with our unmatched management team,” said Ms. McMahon and Mr. Khan. “We recognize this is a tremendous opportunity and responsibility, and we look forward to serving the WWE Universe.”

Additionally, WWE executive Paul Levesque will assume all responsibilities related to WWE’s creative, in addition to his regular duties.

Below are preliminary financial results for the second quarter 2022. Further details regarding these matters can be found in the Form 8-K filed today by the Company with the SEC.

Preliminary Second Quarter 2022 Financial Results
Our financial statements for the quarter ended June 30, 2022 are not yet complete.  Accordingly, we are presenting preliminary estimates of certain financial results that we expect to report for the quarter ended June 30, 2022. The preliminary financial results are subject to revision as we prepare our financial statements and disclosures for the quarter ended June 30, 2022, and such revisions may be significant.  The preliminary financial results should not be viewed as a substitute for financial statements prepared in accordance with generally accepted accounting principles (“GAAP”).  Based on the foregoing, the Company expects revenue, operating income and Adjusted OIBDA to be approximately $328 million, $70 million and $92 million, respectively, for the three months ended June 30, 2022. These amounts compare to revenue, operating income and Adjusted OIBDA of $266 million, $46 million and $68 million, respectively, for the three months ended June 30, 2021. Adjusted OIBDA for the three months ended June 30, 2022 is above the high end of the Company’s guidance range of $80 – $90 million.

Non-GAAP Measures
Adjusted OIBDA is a non-GAAP financial measure and may be different from similarly titled non-GAAP financial measures used by other companies. WWE views operating income as the most directly comparable GAAP measure. The Company defines Adjusted OIBDA as operating income excluding depreciation and amortization, stock-based compensation expense, certain impairment charges and other non-recurring material items that otherwise would impact the comparability of results between periods. Adjusted OIBDA includes amortization and depreciation expenses directly related to supporting the operations of our segments, including content production asset amortization, depreciation and amortization of costs related to content delivery and technology assets utilized for the WWE Network, as well as amortization of right-of-use assets related to finance leases of equipment used to produce and broadcast our live events. The Company believes the presentation of Adjusted OIBDA is relevant and useful for investors because it allows them to view the Company’s segment performance in the same manner as the primary method used by management to evaluate segment performance and to make decisions regarding the allocation of resources. Additionally, the Company believes that Adjusted OIBDA is a primary measure used by media investors, analysts and peers for comparative purposes.

Dave Meltzer of the Wrestling Observer reports that an email was sent to WWE employees informing them that Triple H will be the top man responsible for creative.

As stated, these roles will be in addition to his regular duties.

Prior to Vince McMahon’s retirement announcement, WWE confirmed that Triple H would be returning to his EVP of Talent Relations role.

Triple H returned to his backstage duties in April, after recovering from a serious cardiac event he suffered in September 2021.

We will continue to provide updates as they become available.

For everything we currently know about Vince McMahon retiring, click here. You can find further updates and follow-ups on Vince McMahon at this link.

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