WWE has appointed Kristina Salen as its chief financial officer as it continues to overhaul its senior leadership positions. Salen will report directly to WWE chairman and chief executive Vince McMahon and begins in the new role on August 3.
WWE News : Salen to replace Frank A Riddick
Salen will be replacing Frank A. Riddick III, who had been filling the position of interim Chief Financial Officer since January 30th 2020 while the company searched for a permanent CFO following the departures of Co-Presidents George Barrios and Michelle Wilson. The company is also planning to appoint a permanent Chief Revenue Officer.
Riddick will continue to serve on the Company’s board of directors.
Amid Covid19 concerns, WWE is currently under tremendous pressure from all quarters. The television ratings for the WWE has seen a drop and so is the case with the share price. That led to WWE boss McMahon calling for significant management shakeup.
Long-time chief financial officer George Barrios and chief revenue & marketing officer Michelle Wilson were forced out of the company’s board of directors over differences of opinion about the company strategy, with WWE announcing at the time that it would begin a search for permanent replacements.
Salen has previously served as the CFO of UnitedMasters, a company that uses proprietary data to help artists independently grow their fanbases.Prior to that, she spent four years as the chief financial officer of Etsy, an e-commerce website selling vintage items and craft supplies.
According to some reports, Salen will receive an annual base salary of $730,000, payable bi-weekly. She is also eligible to earn annual cash incentive awards under the company’s management incentive plan. Her annual target incentive award will be 50% of her base salary. Salen will also receive $500,000 of the company’s Class A common stock.