5:09:00 PM
.
01/30/2020 STAMFORD, Conn.--
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.
