WWE stock took a serious hit this afternoon after WWE announced today that Co-Presidents George Barrios and Michelle Wilson will depart the company, effective immediately, and will no longer serve on its Board of Directors.
McMahon said the shakeup was sparked by conflicting strategic visions for the company and WWE is looking to get their product back on track after consecutive quarters failed to reach financial expectations.
WWE stock plummeted after the news was announced, stock fell to $49.79 a 20% drop in an hour.
What is also interesting is that WWE will announce their 2019 fourth quarter financial earnings next Thursday and some have attributed these firings as a reflection of poor earnings.
We will have full coverage on WWE’s 4th qtr earnings call. Stay tuned to Slice Wrestling for the latest updates.