WWE Names New Company President

Vince McMahon's retirement shook the wrestling world after the former CEO and chairman of WWE announced that he was stepping down from his roles. His retirement came after the revelation that McMahon had paid off several former female employees millions of dollars in hush money to keep them quiet about his sexual misconduct. McMahon's daughter Stephanie, and President Nick Khan assumed his positions, and the company was left without anyone to fill the latter's role, until now.

In a report released by the Securities and Exchange Commission, it was announced that Chief Financial Officer and Chief Administrative Officer Frank A. Riddick was named as the new President of WWE. In addition, Riddick's annual base salary was increased from $850,000 to $950,000 and his annual target bonus opportunity is 125%. Additionally, he is entitled to an annual equity grant of $2.4 million. 

It should be noted that Riddick will continue his duties as CFO in addition to being the President. The report also stated that Vince "remains a stockholder with a controlling interest", but clarified that his duties as an executive officer in the company had been fulfilled.

Riddick was named CFO in November of 2021 after his predecessor, Kristina Salen, stepped down from the role following that year's Third Quarter Earnings Call. Before that, Riddick was named interim CFO in 2020 after the previous co-presidents, Michelle Wilson and George Barrios, stepped down. He has also been a member of the company's Board of Directors for over 14 years.