A member of WWE’s executive leadership team is departing the company at the end of this month.
WWE president Nick Khan sent an email to employees on Wednesday announcing that Frank A. Riddick III will be leaving WWE at the end of September. Post Wrestling’s John Pollock shared a portion of the email:
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.
Riddick had been WWE’s chief financial officer since 2021. In his role, Riddick oversaw WWE’s financial planning & analysis, strategy, controllership, investor relations, tax, data analytics, technology, event travel, and facilities departments.
Riddick also served as WWE’s interim chief financial officer for a period of time in 2020.
Riddick was a member of WWE’s board of directors for more than a decade.
The announcement of Riddick’s departure comes one day after Endeavor’s acquisition of WWE was made official. With the deal, WWE and the UFC have been merged into the publicly traded company TKO Group Holdings. Endeavor holds a controlling interest of 51 percent in TKO, with WWE shareholders holding a 49 percent interest.
The terms of former WWE Chief Financial Officer Kristina Salen’s separation agreement were made public today.
In an SEC filing, WWE revealed that they had come to terms with Salen on November 23. Under the the deal, she will receive one year’s salary and continue to receive health benefits for one year. Additionally, Salen will receive a cash payment estimated at $413,000 for forfeited stock units, and will also be eligible for a bonus with a current estimated worth of $431,200 at the WWE Board of Directors’ discretion.
Salen’s departure from the company was announced on November 5, just hours after she took part in an investors call. Salen was succeeded by WWE Board of Directors member and former interim CFO Frank Riddick.
Salen served as WWE’s CFO from August 2020 to November 2021. Prior to her time with WWE, Salen had served as CFO for Etsy. Commenting on her departure back on November 5, Salen wrote on her LinkedIn page:
“Today I’m tagging out at WWE. I started at WWE in the midst of the global pandemic and I am proud of what I accomplished with Vince McMahon’s leadership and the tremendous team. We returned to live event touring, exceeded expectations, raised guidance for 2021 and laid a strong foundation for the future. I look forward to WWE’s continued success in and out of the ring!”
The text of WWE’s SEC filing can be seen below.
“On November 23, 2021, World Wrestling Entertainment, Inc. (the “Company”) entered into a separation agreement with Kristina Salen, formerly the
Company’s Chief Financial Officer, in connection with her previously announced departure from the Company (the “Separation Agreement”). Under the terms of the Separation Agreement, Ms. Salen will receive a continuation of base salary and health insurance coverage for a period of twelve months.
She will be paid cash in the amount of $413,000 for certain forfeited restricted stock units and will be eligible for a payment in respect of her incentive bonus for 2021 to be determined by the Compensation Committee of the Company’s Board of Directors and currently estimated at $431,200, in each case payable on or before March 31, 2022.
All payments are subject to applicable employment or tax withholdings and deductions. The Separation Agreement contains other standard provisions, including maintaining Ms. Salen’s intellectual property, confidentiality and non-solicitation obligations. The Separation Agreement is terminable by Ms. Salen until November 26, 2021.”
Details on all the WWE cuts, reasons some were cut, and new philosophies on talent
WWE finances, its future, how the return of arena shows has impacted business, short and long-term TV rights fees talked about by Nick Khan, why certain cities are getting stadium shows in 2022
How WWE ratings are doing compared to the rest of television
Update on Survivor Series
2021 Hall of Fame ballot, leading candidates to go in, how the balloting works, which active wrestlers have the best qualifications, candidates that aren’t well known in North America, which wrestlers have gotten the highest vote totals in history, the list of first ballot Hall of Famers, which active wrestlers have been voted into the Hall of Fame
Ticket sales for the upcoming major WWE & AEW shows
Jon Moxley talks about a ton of different subjects
An early look at the first AEW special on TNT
Jim Ross talks battle with skin cancer
Television ratings from the past week, international TV ratings
ORDERING INFO: Order the print Wrestling Observer right now and get it delivered via mail, by sending your name, address, Visa or Master Card number and an expiration date to [email protected] or by going to www.paypal.com directing funds to [email protected].
Rates in the United States are $14.50 for 4 issues, $35.50 for 12, $70 for 24, $116 for 40 and $149.50 for 52.
In Canada and Mexico, the rates are $16 for 4, $27 for 8, $38.50 for 12, $76 for 24, $126 for 40 and $162.50 for 52.
For the rest of the world, rates are $18 for 4, $48.50 for 12, $93 for 24, $155 for 40 and $201.50 for 52.
If you order by mail with a check, cash or money order to P.O. Box 1228, Campbell, CA 95009-1228, you can get $1 off in every price range.
FRIDAY NEWS UPDATE
We don’t have a show this weekend with Garrett Gonzalez as he’s out of town to help ring the bell for Monday’s opening of the New York Stock Exchange. Bryan and I will be back tomorrow night covering UFC, New Japan Power Struggle, WWE cuts and other news.
Sabu says he’s not going to wrestle any longer unless he’s offered a match with Brock Lesnar that he knows isn’t happening. The following is a couple of quotes from an interview clip: “I’m not doing real good. I hurt my back about a year ago and it’s still been hurting. I wrestled a couple of weeks ago but I shouldn’t have. I’ve only wrestled like twice in the last year [and] I only went to the gym a couple of times the last year ’cause I hurt my back. I’m probably not gonna wrestle no more… I’m probably just gonna do autograph signings and personal appearance-type stuff .” (thanks to James Romero)
Frank Riddick III was today named the new Chief Financial Officer and Chief Administrative Officer of WWE He replaces Kristina Salen, who is leaving the company Riddick’s new contract is for $850,000 per year and he got a $1 million signing bonus.
Smackdown is tonight from Evansville, IN. Roman Reigns is announced for the show along with Naomi vs. Shayna Baszler.
Rampage is tonight from St. Louis with The Bunny vs. Red Velvet, Bryan Danielson vs. Anthony Bowens, Adam Cole vs. John Silver and a confrontation with C.M. Punk and Eddie Kingston.
We’re looking for reports from today’s WWE show in Birmingham, UK as well as all the weekend UK shows, tonight’s AEW in St. Louis with the Dark Elevation tapings, Evansville live Smackdown report with dark matches to [email protected]We’re also looking for reports from Saturday’s show in London and Sunday’s show in Liverpool. We’re also doing polls this weekend for the New Japan Power Struggle show and UFC 268 from Madison Square Garden so you can leave a thumbs up, down or middle along with a best and worst match for each show to [email protected]
Power Struggle is at 4 a.m. Eastern tomorrow morning or 1 a.m. tonight Pacific time on New Japan World. It’s from the Edion Arena in Osaka. Only Japanese language commentary for tonight’s show:
Yoshinobu Kanemaru & Douki vs. Ryohei Oiwa & Kosei Fujita
Togi Makabe & Tomoaki Honma & Tiger Mask vs. Tanga Loa & Gedo & Jado
Yuji Nagata & Ryusuke Taguchi & Master Wato vs. Sanada & Hiromu Takahashi & Bushi
Hirooki Goto & Tomohiro Ishii & Yoshi-Hashi vs. Evil & Sho & Yujiro Takahashi for Never trios titles
Toru Yano vs.; Great O’Khan for KOPW title in amateur rules match
Robbie Eagles vs. Desperado for IWGP Jr.title
Kazuchika Okada vs Tama Tonga for IWGP title shot
Shingo Takagi vs. Zack Sabre Jr. for IWGP world title
UFC tomorrow night in Madison Square Garden:
ESPN+ at 6 p.m.
Carlos Vergara (127.4) vs.Ode Osbourne (125.2) – Vergara forfeits 20 percent of his purse or missing weight
Melsik Baghdasaryan (1454.) vs. Bruno Souza (148.4) – Souza forfeits 20 percent of his purse for missing weight
Dustin Jacoby (203.4) vs. John Allan (205)
Gian Villante (260.6) vs. Chris Barnett (263.8)
ESPN+ and ESPN News at 8 p.m.
Ian Garry (169.6) vs. Jordan Williams (1706)
Edmen Shahbazyan (185.4) vs. Nassourdine Imavov (184.6)
Phil Hawks (185.4) vs. Chris Curtis (186)
Al Iaquinta (155.8) vs. Bobby Green (155.2)
Alex Pereira (185.8) vs. Andreas Michalidis (185)
PPV on ESPN+ at 10 p.m.
Justin Gaethje (155.6) vs. Michael Chandler (155.2)
Shane Burgos (145.6) vs,. Billy Quarantillo (145.4)
Frankie Edgar (135.6) vs. Marlon Vera (135)
Rose Namajunas (115) vs. Zhang Weili (115) for strawweight title
Kamaru Usman (169) vs. Colby Covington (169.4) for welterweght title
AEW announced that Full Gear will be available at selected Cinemark, AMC, Regal, Harkins, iPic,Emagine Entertainment and other theaters on 11/13
The former Oney Lorcan, now back to Biff Busick, has been announced for the wXw 16 Carat Gold tournament for 3/4 to 3/6 in Oberhausen, Germany.
WWE
There won’t be a Takeover show over WrestleMania week at this point. WWE is selling travel packages that list Smackdown on Friday 4/1 at the American Airlines Center in Dallas, WrestleMania on Sunday and Monday at AT&T Stadium, Raw back at the American Airlines Center on Monday and AXXESS at the Kay Bailey Hutchinson Convention Center in Dallas. There is also no word on the Hall of Fame ceremony.
MCW runs 11/12 at the MCW Arena in Joppa,MD and 11/13 in Hollywood, MD. The 11/12 show is the Shane Shamrock Cup show featuring Shannon Moore, Aaron Rourke, Ninja Mack, Sam Adonis, Jake Crist, Action Andretti, Luke Hawx, KC Navarro, PJ Hawk and Myles Hawkins.
Matt Cardona headlines on 10/2 for AIW at the Tadmore Shrine. Effy and Thunder Rosa are also on the show.
Brady Roberts (Brady Malibu) is the guest on today’s Talk is Jericho talking about his new show, “Escaping Denver.” The season finale of the series comes out Monday.
WWE has announced a change to its leadership team.
It was announced on Friday that Frank A. Riddick III has been named WWE’s new chief financial officer and chief administrative officer, replacing the departing Kristina Salen as CFO. Riddick has been a member of the WWE board of directors for more than 13 years and previously served as the company’s interim CFO in 2020.
Riddick held the interim position after George Barrios and Michelle Wilson were let go from WWE and before Salen was hired.
Riddick “will oversee financial planning & analysis, strategy, controllership, investor relations, tax, data analytics, technology, event travel and facilities.”
“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 McMahon. “I want to thank Kristina for her contributions to WWE and wish her well in her future pursuits.”
Salen is departing WWE after having been named chief financial officer in July 2020. She took part in yesterday’s investors call following the release of WWE’s third quarter financial report.
“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.”
WWE’s full press release announcing the change is available below:
STAMFORD, Conn.– (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.
