WWE experienced a major corporate shake-up this past January as Co-Presidents George Barrios and Michelle Wilson left the company.
Frank A. Riddick III, who has been on WWE’s Board for more than 11 years, was named the interim Chief Financial Officer while the company searches for a permanent CFO and Chief Revenue Officer. Riddick is reporting directly to WWE Chairman & CEO Vince McMahon.
The departures of Barrios and Wilson were announced on January 30, 2020, however it was expected for at least a couple of weeks as Wrestling Inc. has learned that Riddick was offered his position on January 16, 2020.
Riddick’s employment relationship with WWE is “at-will”, which means that either party can end his employment at any time for any or no reason.
Riddick’s salary is $66,666.67 bi-weekly ($1.6 million per year). The salary covers all hours worked during a given work week or other time period. While a standard work week is 40 hours, the hours are subject to business needs as determined by the company at their discretion.
As previously reported, Barrios and Wilson’s base salaries in 2019 were $935,250 apiece. Their total compensation was considerably higher, which includes salary, stock awards, non-equity incentive plan compensation and other compensation. For 2019, the total compensation for Barrios and Wilson was $1,795,855 apiece.
Since Riddick is a temporary employee, he is not eligible for medical benefits or paid time off, which includes holidays, vacation, personal and sick days.