More on WWE's Executive Shakeup; Current Vibe at WWE's Headquarters

— Yesterday afternoon after the markets closed for the day, news broke that WWE has fired its two co-Presidents, Michelle Wilson and George Barrios due to “different views” on how WWE is to achieve its strategic priorities. According to pwinsider.com, an internal memo was circulated to employees which got a little bit more direct, citing “irreconcilable differences” and one source said when the co-Presidents had a different vision than McMahon, “it’s never going to be Vince who loses that argument.”

— Almost everyone in management was said to be in “complete shock” at the announcement which came out of left field just days before WWE’s fourth quarter and year-end conference call scheduled for February 6. As well, the fact that it happened more or less mid-week rather than over the weekend when most large corporations tend to make significant announcements of this manner, seems to also allude to an incident that led to an immediate departure. Internally, when the announcement came out, existing work “ground to a halt” and there is much confusion about what happens with initiatives and projects that were already underway under Wilson and Barrios’ leadership. The WrestleVotes account adds that the vibe at the offices are “uncomfortable” and that most people have more questions than answers, especially at such a busy time of the year (financial results, XFL launch, WrestleMania, etc.). Ultimately though, WWE will move on and they have already done it with two members of the McMahon family – Linda and Shane – leaving behind their official duties in the past.

— Two conspiracy theories that were making the rounds yesterday as reasons for Wilson and Barrios’ dismissals were that they were against the XFL and that they were trying to pitch Vince to sell WWE to a larger company like Disney or FOX. PWInsider reports that both of these theories are untrue.

— As for Wilson and Barrios, both were with WWE for over a decade and are expected to be granted hefty severance packages that will no doubt reach into the millions.

— WWE’s stock closed yesterday at over $62 but opened this morning at just a tad over $45 – a significant yet expected tumble as a result of the moves – before rebounding to its current $48 or so per share.

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