WWE announced a big management shakeup today, with two members of their leadership no longer with the company.
A press release that was issued this afternoon revealed that co-presidents George Barrios and Michelle Wilson are gone from WWE effective immediately and will no longer serve on the company's board of directors.
“I would like to thank George and Michelle for their 10+ years of service and contributions to the organization,” Vince McMahon said in the press release. “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.”
WWE noted that Frank A. Riddick III has been named the company's interim Chief Financial Officer. The company has begun a search for a permanent Chief Financial Officer and Chief Revenue Officer.
Riddick has been on WWE's board of directors for more than 11 years.
Barrios and Wilson were promoted to co-presidents and appointed to WWE's board of directors in 2018.
As of this writing, WWE stock is down 20 percent in after hours trading.
WWE will announce their fourth quarter and full year 2019 earnings results next Thursday.