HeelByNature.com is reader-supported. When you click on links or make purchases through our site, we or our affiliated partners may earn a commission. Additionally, our site features Sponsored Content, which helps us maintain and operate the website.
WWE stock has dropped over 20% in after-hours trading following the major executive shakeup announced this afternoon.
WWE announced today co-presidents Michelle Wilson and George Barriors have been let go from the company following a decision made from Vince McMahon and the Board Of Directors.
WWE stock ended the day at $62.30, then dropped to $48 in after-hours trading following the announcement.
“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.
George Barrios joined WWE in 2008 as Chief Financial Officer, overseeing investor relations, accounting, and overall finances for the company. He also oversees the company IT, Facilities and Travel departments.
Michelle Wilson joined WWE in 2009 as Executive VP of Marketing. She was promoted to Chief Revenue and Marketing Officer in 2013. She oversees WWE’s PPV, New Business Development, Consumer Products, Creative Services, Entertainment Relations, and Corporate Communications. She was an integral part in the launch of the WWE Network in 2014.
WWE has appointed Frank A. Riddick III as interim Chief Financial Officer, reporting directly to Vince McMahon.
The company is seeking a permanent Chief Financial Officer and Chief Revenue Officer.