It doesn’t look as though the investors and stockholders are showing much support of the decision made by the Chairman of the Board this week to release longtime Co-Presidents Michelle Wilson and George Barrios in favor of a significant “management transition” behind-the-scenes in WWE.
WWE announced a major, and somewhat shocking, change to their leadership team this afternoon by declaring that Co-Presidents Michelle Wilson and George Barrios were out of the company effectively immediately.
Both had been with WWE for a number of years but it seems clear that the 2019 full year and fourth quarter results (set to be announced next week on 2/6) probably will not meet expectations, prompting Vince McMahon to make this change.
The sudden change obviously spooked investors as the WWE stock fell sharply in after-hours trading.
The company made the announcement after the markets had closed when the stock was at $62.30 but when the news became public, the stock plunged going as low as $47.80 but rebounding slightly to $49.00 as of this writing.
We will keep you posted here at eWrestling.com as the fallout from today’s major WWE corporate announcement continues!
Uht-oh, #WWE #stocks are taking a MASSIVE hit following SHOCKING NEWS today that the company has RELEASED longtime Co-Presidents George Barrios & Michelle Wilson as part of “MANAGEMENT TRANSITION”
Read the latest behind-the-scenes news and talk HERE: https://t.co/cAFa7nN0Z8 pic.twitter.com/J7XX7wqmFH
— Matt Boone (@MattBoone1984) January 31, 2020
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