WWE® Names Frank A. Riddick III Chief Financial & Administrative Officer
November 05 2021 - 08:00AM
Business Wire
WWE (NYSE: WWE) today announced that Frank A. Riddick III has
been named Chief Financial Officer & Chief Administrative
Officer, reporting to Chairman & CEO Vince McMahon. Riddick has
served as a member of the WWE Board of Directors for more than 13
years and previously held the role of interim CFO in 2020. He
succeeds Kristina Salen, who is departing the company as CFO.
“I’ve had the great fortune of working with Vince McMahon and
the talented people at WWE for over a decade and it’s an honor to
join them on a full-time basis,” said Riddick.
“Working closely with Frank for many years, we have great
confidence in his ability to execute our company’s strategy to
increase revenues and drive shareholder value by engaging our
global fanbase with phenomenal content,” said Chairman & CEO
Vince McMahon. “I want to thank Kristina for her contributions to
WWE and wish her well in her future pursuits.”
“I started at WWE during the global pandemic and I am proud of
what I accomplished with Vince's leadership and the tremendous
team,” said Salen. “We returned to live event touring, exceeded
expectations, raised guidance for the year, and have laid a strong
foundation for the future. I look forward to WWE's continued
success.”
As CFO & CAO, Riddick will oversee financial planning &
analysis, strategy, controllership, investor relations, tax, data
analytics, technology, event travel and facilities.
Riddick previously served as CEO for FloWorks International,
LLC, JMC Steel Group, Formica Corporation, and Triangle Pacific
Corp., and President/COO of Armstrong World Industries, Inc. He has
also served in executive management positions, including Chief
Financial Officer, Controller, Treasurer, and Vice President of
Mergers and Acquisitions during a career that spans 40 years.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated
media organization and recognized leader in global entertainment.
The Company consists of a portfolio of businesses that create and
deliver original content 52 weeks a year to a global audience. WWE
is committed to family-friendly entertainment on its television
programming, pay-per-view, digital media and publishing platforms.
WWE’s TV-PG programming can be seen in more than 900 million homes
worldwide in 28 languages through world-class distribution partners
including NBCUniversal, FOX Sports, BT Sport, Sony India and
Rogers. The award-winning WWE Network includes all live
pay-per-views, scheduled programming and a massive video-on-demand
library and is currently available in more than 180 countries. In
the United States, NBCUniversal’s streaming service, Peacock, is
the exclusive home to WWE Network.
Additional information on WWE (NYSE: WWE) can be found at
wwe.com and corporate.wwe.com.
Trademarks: All WWE programming,
talent names, images, likenesses, slogans, wrestling moves,
trademarks, logos and copyrights are the exclusive property of WWE
and its subsidiaries. All other trademarks, logos and copyrights
are the property of their respective owners.
Forward-Looking Statements: This
press release contains forward-looking statements pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995, which are subject to various risks and uncertainties. These
risks and uncertainties include, without limitation, risks relating
to: the impact of the COVID-19 outbreak on our business, results of
operations and financial condition; entering, maintaining and
renewing major distribution agreements; a rapidly evolving media
landscape; WWE Network (including the risk that we are unable to
attract, retain and renew subscribers); our need to continue to
develop creative and entertaining programs and events; the
possibility of a decline in the popularity of our brand of sports
entertainment; the continued importance of key performers and the
services of Vincent K. McMahon; possible adverse changes in the
regulatory atmosphere and related private sector initiatives; the
highly competitive, rapidly changing and increasingly fragmented
nature of the markets in which we operate and greater financial
resources or marketplace presence of many of our competitors;
uncertainties associated with international markets including
possible disruptions and reputational risks; our difficulty or
inability to promote and conduct our live events and/or other
businesses if we do not comply with applicable regulations; our
dependence on our intellectual property rights, our need to protect
those rights, and the risks of our infringement of others’
intellectual property rights; the complexity of our rights
agreements across distribution mechanisms and geographical areas;
potential substantial liability in the event of accidents or
injuries occurring during our physically demanding events including
without limitation, claims alleging traumatic brain injury; large
public events as well as travel to and from such events; our
feature film business; our expansion into new or complementary
businesses and/or strategic investments; our computer systems and
online operations; privacy norms and regulations; a possible
decline in general economic conditions and disruption in financial
markets; our accounts receivable; our indebtedness including our
convertible notes; litigation; our potential failure to meet market
expectations for our financial performance, which could adversely
affect our stock; Vincent K. McMahon exercises control over our
affairs, and his interests may conflict with the holders of our
Class A common stock; a substantial number of shares are eligible
for sale by the McMahons and the sale, or the perception of
possible sales, of those shares could lower our stock price; and
the volatility of our Class A common stock. In addition, our
dividend is dependent on a number of factors, including, among
other things, our liquidity and historical and projected cash flow,
strategic plan (including alternative uses of capital), our
financial results and condition, contractual and legal restrictions
on the payment of dividends (including under our revolving credit
facility), general economic and competitive conditions and such
other factors as our Board of Directors may consider relevant.
Forward-looking statements made by the Company speak only as of the
date made and are subject to change without any obligation on the
part of the Company to update or revise them. Undue reliance should
not be placed on these statements. For more information about risks
and uncertainties associated with the Company’s business, please
refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of
the Company’s SEC filings, including, but not limited to, our
annual report on Form 10-K and quarterly reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211105005491/en/
Media Contact: Chris Legentil
203-352-8793 Chris.Legentil@wwecorp.com
Investor Contact: Michael Weitz
203-352-8642 Michael.Weitz@wwecorp.com
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