Nick Khan's Memo To WWE Staff Regarding C-Level Executive's Departure After TKO Close

Frank A. Riddick III, WWE's Chief Financial Officer and President, is leaving the promotion following the closing of the WWE-UFC merger, according to Fightful Select. The report also contains an internal memo sent out to several people within the organization by WWE's new President, Nick Khan, which you can read below. 

"After over thirteen years on our Board of Directors and almost two years after joining WWE full time as our CFO and serving as President/CFO, Frank Riddick will be leaving WWE post the TKO close at the end of this month. Frank is a highly respected colleague, and it has been a pleasure to work alongside him. We are grateful for his counsel, support and dedicated years of service and wish him only continued success moving forward. Nick Khan."

Wrestling Inc. has verified the authenticity of this memo with WWE.

Riddick, who was appointed WWE's Chief Financial Officer in 2021 after serving as a member of the promotion's Board of Directors for several years, reportedly netted a $5 million bonus following the WWE-UFC merger. 

The WWE-UFC merger officially closed yesterday, with Endeavor unveiling TKO Group Holdings. It was announced on April 3 that WWE and UFC would be merging under the Endeavor umbrella to form a new sports and entertainment company. TKO Group Holdings is now listed on the New York Stock Exchange under the "TKO" ticker symbol.