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.