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June 21, 2014

Is it time for a new WWE CEO?

With this past week's announcement of World Wrestling Entertainment releasing 11 people from its roster added to the already horrendous drop in the WWE's stock price by almost 50%; reports that Vince McMahon personally lost over $750 million dollars over the last few months; the market's disappointment in WWE's new U.S. television deal; and the number of WWE Network subscribers being stuck at 667,287 which is quite far off the reported 1.5 million subscribers needed for it to break even; questions are being asked about the company's direction.

As is inevitable when a company has this kind of downfall in such a short amount of time, reports have been circulating that many investors are calling for Vince McMahon to resign as Chief Executive Officer (CEO) of the company. However, the obvious query is whether or not that should happen and if so who would replace him?

Before devolving further into this issue, though, it has to be noted that Vince McMahon owns roughly 57% of WWE’s Class A common stock - 39.9 million shares - which gives him controlling interest in the company. So if he doesn’t wish to be removed as CEO of the company it would be almost impossible to force him to do so. Additionally, it also means that any successive CEO would need his stamp of approval.

Regardless, this does not mean that it hasn’t come time for someone else to guide the WWE as the CEO...More?

source: slamwrestling.com


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