Co-Presidents George Barrios and Michelle Wilson have both departed from the company, effective immediately.
Barrios was the company's Chief Financial Officer, and Wilson its Chief Revenue Officer.
“I would like to thank George and Michelle for their 10+ years of service and contributions to the organization,” said Vince McMahon in the press release. “I am grateful for all that was accomplished during their tenure, but the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward.
Frank A. Riddick, a member of WWE's Board of Directors for over 11 years, has taken over as interim Chief Financial Officer. The company is searching for full-time replacements.
WWE stock fell close to 23 percent in after-hours trading on Thursday, beginning with when the news broke.
Stock initially closed up this afternoon at 62.30, but has now fallen to 48.00, which would be its lowest value since May 2018.