Top Executives Exit as the Wrestling Giant Undergoes Major Restructuring
The wrestling world witnessed a significant upheaval as Endeavor’s acquisition of WWE led to a series of high-profile layoffs. The merger’s aftermath saw several WWE stalwarts’ departure, signaling a new era for the entertainment behemoth.
PWInsider broke the news on Friday, highlighting the exit of Jamie Horowitz, WWE’s EVP of Development and Digital, and Catherine Newman, the EVP and Head of Marketing. Horowitz, who joined WWE in June 2021, had previously held positions at ESPN, Fox Sports, and DAZN. Notably, his tenure at Fox Sports ended abruptly in 2017 amid a sexual harassment investigation. On the other hand, Newman, before her stint at WWE starting June 2022, held the reins as the Chief Marketing Officer for Manchester United Media.
The list of departures also included Amanda Bloom, who served as the Director of Enterprise Master Data and Governance. Having been with WWE for close to eight years, Bloom’s journey began as a metadata specialist.
The WWE-Endeavor deal, which culminated on September 12, has reshaped the landscape of sports entertainment. This merger has birthed TKO Group Holdings, a publicly traded entity that combines the might of WWE and UFC. Endeavor now commands a 51 percent stake in TKO, while WWE shareholders retain a 49 percent interest.
In the lead-up to the layoffs, WWE had sent out a communication to its employees. The message emphasized the company’s intent to assess its operations and systems, aiming to unearth synergies across the business. As WWE pointed out, this evaluation would inevitably lead to workforce reductions.
Adding to the series of changes, it was disclosed on September 13 that WWE’s Chief Financial Officer, Frank Riddick, would be parting ways with the company by month-end. Riddick’s exit comes on the heels of a substantial $5 million bonus he received in light of the WWE-Endeavor deal closure.
