WWE CFO & President Frank Riddick set to leave after merger with UFC

According to reports, WWE CFO & President Frank A. Riddick III will leave the company at the end of this month. Fightful Select claims that WWE President Nick Khan had issued an internal memo this morning to convey Riddick’s departure. There were more than 100 WWE employees who left on Friday.

Riddick had been a board member of WWE for over a decade and was named its chief financial officer after Kristina Salen left the company in 2021. Riddick’s titles were promoted to president and chief financial officer last year.

Frank Riddick will be leaving the company post the TKO close: Nick Khan

The memo by Nick Khan reads, "After over thirteen years on our Board of Directors and almost two years after joining WWE full time as our CFO and serving as President/CFO, Frank Riddick will be leaving the company post the TKO close at the end of this month. Frank is a highly respected colleague, and it has been a pleasure to work alongside him. We are grateful for his counsel, support and dedicated years of service and wish him only continued success moving forward."

Riddick is the first member of the executive committee to leave WWE since its merger with UFC. The merger, reportedly, helped him in receiving a $5 million bonus. UFC senior executive vice president and chief operating officer Lawrence Epstein said, "Where we want to get is where every UFC fan is a WWE fan and every WWE fan is a UFC fan."

He further added, "We've always thought there was just incredible opportunity to sort of roll up these two great brands and great organizations in the combat sports space. We were a little bit early in our thinking on this thing. And of course, it's really exciting and really a dream come true to have this come together."

The merger of WWE and UFC was first announced earlier this year in April. The much-awaited incorporation resulted in a newly-formed entity, named TKO, which has a valuation of $21.4 billion. It is being reported that Endeavor, the parent company of UFC, will own 51 percent of TKO while WWE shareholders secured 49 percent of the ownership.