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February 10, 2020 Observer Newsletter: Major WWE corporate shakeups, more

The WWE had one major change and hints of a second one when it comes to business, which led to a major drop in the stock price.

WWE announced suddenly on 1/31 that co-Presidents George Barrios and Michelle Wilson were no longer with the company. No replacements were announced, and no substantive reason was given past there was a disagreement regarding the future direction of the company.

Barrios in particular had been the face of the company to the major stock analysts, who saw his departure as leading to major uncertainty. The departure also included notification that the financial numbers for the fourth quarter would be at the low end of projections.

“As you know, the board and I recently announced a management transition,” said McMahon. “This decision did not reflect a change in our strategy. It was made after careful consideration. We remain highly focused on growing the value of our content, furthering international expansion, and engaging fans across all platforms."

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