WWE Elevates Paul ‘Triple H’ Levesque to Chief Content Officer, Frank Riddick Promoted to CFO

World Wrestling Entertainment (WWE) continues to restructure internally following the sudden resignation of founder and CEO Vince McMahon in July.

The media company Sept. 6 announced the promotions of former wrestler Paul “Triple H” Levesque to chief content officer and Frank Riddick to president and CFO.

Levesque taking over creative for WWE has coincided with a 15% spike in “Monday Night Raw” viewership and double-digit increases in social media engagement, according to the company. As chief content officer, Levesque will oversee creative writing, talent relations, live events, talent development and creative services. He will report to co-CEO Nick Khan. Levesque is married to WWE chairwoman/co-CEO Stephanie McMahon.

Riddick joined WWE as interim CFO last year, after serving on the company’s board of directors for more than 13 years. During that time, WWE recorded annual and quarterly records for revenue and adjusted pre-tax earnings, according to the company. In his new role, Riddick will oversee financial planning and analysis, strategy, controllership, investor relations, tax, data analytics, technology, event travel and facilities. He will jointly report to Stephanie McMahon and Khan.

“We are excited to announce expanded roles for Paul and Frank, which will enhance WWE’s ability to create premium content for our partners around the world and, ultimately, drive our business forward,” McMahon and Khan said in a statement.

Vince McMahon had temporarily stepped down from his leadership position earlier this year following allegations he had paid millions to former female employees to suppress sexual misconduct and infidelity charges.

The WWE later disclosed in a regulatory filing that McMahon had made payments totaling $14.6 million to women from 2006 through 2022. As a result, the WWE said it would be revising fiscal statements for 2019, 2020, 2021 and the first quarter of 2022.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

WWE Founder/Chairman/CEO Vince McMahon Retires, Daughter Stephanie McMahon and Nick Khan Assume Co-CEO Positions

Vince McMahon, founder and CEO of World Wrestling Entertainment, has formally retired after more than 40 years. His daughter Stephanie McMahon and Nick Khan have been named co-CEOs of the venerable professional wrestling promotional company.

The elder and married McMahon had temporarily stepped down from his leadership position following allegations he had paid millions to former female employees to suppress sexual misconduct and infidelity charges.

The WWE July 25 disclosed in a regulatory filing that McMahon made payments totaling $14.6 million to women from 2006 through 2022. As a result, the WWE said it would be revising its fiscal statements for 2019, 2020, 2021 and the first quarter of 2022.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

“As I approach 77 years old, I feel it’s time for me to retire as chairman and CEO of WWE,” McMahon said in a statement. “I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”

WWE, which broadcasts its content in more than 180 countries and 30 languages, recently licensed its WWE Network streaming platform to NBCUniversal’s Peacock streaming platform, in a reported $1 billion deal for five years.

Stephanie McMahon Named Interim CEO of WWE as Board Investigates Her Father, Vince McMahon, for Alleged Misconduct

World Wrestling Entertainment (WWE) and its board of directors June 17 announced that a special committee of the board is conducting an investigation into alleged misconduct by its chairman/CEO Vincent McMahon and John Laurinaitis, head of talent relations.

Effective immediately, McMahon has voluntarily stepped back from his responsibilities until the conclusion of the investigation. McMahon will retain his role and responsibilities related to WWE’s creative content during this period. WWE said McMahon will still appear on “SmackDown” tonight at 8 p.m. ET live on Fox.

The special committee has appointed longtime WWE executive Stephanie McMahon, daughter of Linda and Vince McMahon, to serve as interim CEO and interim chairwoman.

The move comes after media reports said a former WWE female employee was paid an alleged $3 million hush settlement to cover up an affair with Mr. McMahon.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are,” Mr. McMahon said in a statement.

In a statement, Stephanie McMahon said she was committed to working with the independent directors to strengthen the culture and WWE.

“It is extremely important to me that we have a safe and collaborative workplace,” she said. “I have committed to doing everything in my power to help the special committee complete its work, including marshaling the cooperation of the entire company to assist in the completion of the investigation and to implement its findings.”

In addition, the special committee and WWE will work with an independent third-party to conduct a comprehensive review of the company’s compliance program, HR function and overall culture.

In 2021, NBCUniversal’s Peacock streaming platform acquired exclusive rights to the WWE Network in a five-year deal worth a reported $1 billion.

Quibi Getting in the WWE Ring

Pending short-form mobile video streaming service Quibi has signed a production deal with World Wrestling Entertainment (WWE) for original series “Fight Like a Girl,” featuring performers Sasha Banks, Brie Bella, Nikki Bella, Alexa Bliss, Sonya Deville, Charlotte Flair, Nia Jax, Becky Lynch and Natalya.

In each episode, Stephanie McMahon, chief brand officer of WWE, pairs a performer with a young woman struggling with a personal issue. The WWE Superstars draw from their own life experiences to help their trainees overcome obstacles and become tougher, stronger and healthier versions of their former selves inside and out.

Follow us on Instagram

“This strong cast of Superstars are leaders and role models who each have personal stories of challenge, perseverance and triumph,” McMahon said in a statement. “We are thrilled to have them on board to help young women find both their inner and outer strength and overcome adversity in their lives.”

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Quibi, which is the brainchild of DreamWorks Animation founder Jeffrey Katzenberg and former HP CEO Meg Whitman, is scheduled to launch on April 6 with a two-tier pricing system: $4.99 with ads, $7.99 without.