The WWE CFO & President Frank A. Riddick III are reported to be leaving the company during the end of this month. This news comes immediately within a day of WWE’s merger with the UFC.
According to a report released by Flightful Select, WWE President Nick Khan issued an internal memo to ferry the CFO’s departure.
Issued Memo
Before WWE, Riddick served as CEO of FloWorks International. Previously he held similar positions at LLC, JMC Steel Group, Triangle Pacific Corp, Formica Corporation, Armstrong World Industries Inc, and many more.
The memo issued by him goes 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 the company 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
The merger also led him to receive a 5$ dollar bonus and also made him the first executive to leave WWE post-merger.
WWE & UFC Merger
The merger of WWE along with UFC was first announced in April 2023. Finally, after the merger, this new entity is called TKO which is valued at 21.4$ billion. This merger lets WWE own 49% with WWE shareholders, while Endeavor owns 51%. For those wondering about Endevaor, it is the parent company of UFC.
“Where we want to get is where every UFC fan is a WWE fan and every WWE fan is a UFC fan.”
“We’ve always thought there was just an incredible opportunity to sort of roll up these two great brands and great organizations in the combat sports space. We were a little bit early in our thinking on this thing. And of course, it’s really exciting and really a dream come true to have this come together.’
Lawren Epstein told ESPN
Further, the roles are as follows:
- WWE Chairman Vince McMahon: Executive Chairman TKO
- Dana White: UFC CEO
- Paul “Triple H” Levesque: Chief Content Officer
