WWE Parts Ways With Co-Presidents George Barrios and Michelle Wilson

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Michelle Wilson, George Barrios

In a statement Thursday afternoon, CEO Vince McMahon said that "the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward."

The WWE is parting ways with its co-presidents, George Barrios and Michelle Wilson.

CEO Vince McMahon said Thursday in a statement that “the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward.”

The company says it is now searching for a new CFO and a new chief revenue officer. Board member Frank A. Riddick III will be interim CFO.

Barrios joined the company as is chief financial and strategy officer in 2008, while Wilson led the company’s operations and was responsible for oversight of its revenue lines. They were named co-presidents in 2018.

During their tenures, the WWE dramatically shifted its business strategy by embracing streaming video and launching the WWE Network, which carried the company's pay-per-view events and other content. At the same time, the company has increased its presence on TV, moving Smackdown to broadcast TV on Fox, and signing new deals with NBCUniversal for Raw and NXT.

The WWE said Thursday that it expects its full-year 2019 adjusted OIBDA (operating income before depreciation and amortization) to be approximately $180 million. That would be only slightly ahead of last year's $179 million.