The Post-Merger Era Begins: A Key WWE Figure Takes Their Leave
In the wake of the monumental merger between WWE and UFC under the TKO Holdings Group banner, the wrestling and combat sports world has witnessed its first major departure. The WWE-UFC merger, officially confirmed on September 12th, has created a seismic shift in the industry, and its financial ramifications are already making headlines.
Significant executive bonuses were handed out after the merger, which led to both companies operating under the TKO banner. Amidst these changes, WWE President Nick Khan issued a memo to employees announcing the departure of WWE’s Chief Financial Officer and Chief Administrative Officer, Frank Riddick. Riddick is set to leave the company at the end of this month.
The memo, while acknowledging Frank Riddick’s invaluable contributions to WWE, also signaled his exit:
“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
Before the TKO merger, Frank Riddick played a crucial role in various aspects of WWE’s operations, including financial planning and analysis, strategy, controllership, investor relations, tax, data analytics, technology, event travel, and facilities. He was also a prominent voice during WWE’s quarterly investor calls.
Riddick’s departure comes after receiving a substantial $5 million post-acquisition bonus following the completion of the Endeavor deal. While his exit was sudden, it ensures he won’t be left in financial straits.
