Key WWE Figure Leaving Following Takeover

WWE UFC TKO Group Holdings being listed on the New York Stock Exchange

Major changes at the top of WWE have begun.

On September 12th, 2023, WWE and the wrestling business changed forever when the Endeavor takeover of the company was finalised with the sports entertainment giant merging with UFC under a new umbrella company known as TKO Group.

While changes were to be expected from any merger, they have come almost immediately with one of the sports entertainment giant’s executive team on their way out.

Fightful Select has reported that Chief Financial Officer and former President, Frank Riddick III will be leaving WWE according to an internal memo from the company’s new President, Nick Khan. The memo from Khan read as follows:

“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.”

Are more job losses coming to WWE?

While Frank Riddick III has done well out of the merger, netting a $5 million bonus, there are others in the company who might not be so lucky.

Job losses are predicted following the takeover and in the weeks leading up to completion, staff were said to be “gritting their teeth” over what was to come.