Frank Riddick will take over as interim CFO

    Chairman and CEO of WWE Vince McMahon has announced that George Barrios & Michelle Wilson will depart the company effective immediately and will no longer serve on it’s Board of Directors.

    I would like to thanks George and Michelle for their 10+ years of service and contributions to the organisation. I am grateful for all that was accomplished during their tenure, but the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward. We have a deep team of talented, experianced and commited executives across the organisation, and the board and I have great confidence in our collective abilities to create compelling content, engage our global fanbase across platforms, incease revenues, and drive shareholder values.

    Vince McMahon, Corporate.WWE.com

    The move is a surprising one, however both Barrios & Wilson have have slowly been selling their own shares a number of months ago before the new Television deals came in place, which the market expected to incease the price in shares.

    Speaking of shares, as of 10:30pm GMT, the shares are projected to plummet after the annoucement;

    Shares of WWE plunged as much as 15% to $50.25 in extended trading. Frank Riddick, a board member for more than 11 years, has been named interim chief financial officer. He’ll report to Chairman and Chief Executive Officer Vince McMahon.