WWE -22% after management ouster

Jan. 30, 2020 6:05 PM ETWorld Wrestling Entertainment, Inc. (WWE)By: Jason Aycock, SA News Editor37 Comments
  • World Wrestling Entertainment (NYSE:WWE) has slid 21.9% postmarket after a management shakeup including the departure of its co-presidents.
  • Co-presidents George Barrios and Michelle Wilson are exiting those posts and the board of directors.
  • Longtime board member Frank A. Riddick III will be interim chief financial officer, reporting to Chairman/CEO Vince McMahon.
  • And the company has commenced a search for a permanent CFO and permanent chief revenue officer.
  • “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," McMahon says.
  • The company expects full-year adjusted OIBDA of about $180M.

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