WWE is always shifting, and it appears that another big change is going down on top. Erika Ayers Nardini is leaving WWE’s board of directors.
According to an SEC filing the company released, the Barstool Sports CEO, Erika Ayers Nardini, is leaving WWE’s Board Of Directors. Nardini is stepping away from the company to deal with Barstool’s transition as they saw new ownership.
On September 15, 2022, the Board of Directors of World Wrestling Entertainment, Inc. (the “Company”) elected JoEllen Lyons Dillon and Michelle McKenna as directors of the Company. Each of Mses. Dillon and McKenna will serve until the next annual meeting of the Company’s stockholders. There are no arrangements or understandings with any person pursuant to which either individual was elected as a director of the Company nor are there any transactions directly or indirectly involving either that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934. Ms. Dillon and Ms. McKenna have been determined by the Board to satisfy the independence requirements of applicable New York Stock Exchange and Securities and Exchange Commission rules.
Mses. Dillon and McKenna have not been appointed to any of the Company’s standing committees. They will be entitled to our normal Board fees for non-management Directors. The Company also will enter into an Indemnification Agreement with each of Mses. Dillon and McKenna in the same form that the Company has entered into with its other non-management directors.
Concurrent with the election of Mses. Dillion and McKenna, Erika Ayers Nardini has resigned from the Board. With the recent acquisition of Barstool Sports by Penn Entertainment, Ms. Ayers Nardini’s time will be focused on the next chapter of this business and partnership. Ms. Ayers Nardini’s decision to resign from the Board was not due to any dispute or disagreement with the Company, its management or any matter relating to the Company’s operations, policies or practices.
We previously reported that WWE named Michelle McKenna and JoEllen Lyons Dillon to the board. Obviously, they did this because they knew that a seat would be vacated. For more updates, keep an eye on Ringside News.
What’s your take on this big change for WWE? Sound off in the comments!