First Post WWE – UFC Merge Departure Unveiled

WWE and UFC are now one company under the TKO Holdings Group banner.
Departures and layoffs were expected after this big deal fell through, and now we have our first departure.

The Endeavor deal leading to the establishment of the merger company WWE and UFC TKO was officially confirmed yesterday, September 12.

TKO stock closed at a very high level, above $103.

Following the merger, both companies now operate under the TKO banner, and the deal resulted in several top executives receiving payouts.
These rewards are also quite large.

Sean Sapp reports that WWE Chairman Nick Khan sent a memo to employees, announcing the departure of WWE Chief Financial Officer and Chief Administrative Officer Frank Riddick.

Riddick will leave the company at the end of the month.

WWE President and CFO Frank Riddick III will be leaving WWE, per an internal memo from Nick Khan.

Riddick was bonused $5 million for the TKO deal

Prior to the TKO merger, Frank Riddick was responsible for various aspects including financial planning and analysis, strategy, controls, investor relations, tax, data analysis, technology, Event travel and facilities.

He is also a voice on WWE’s quarterly investor calls.