TKO Group Holdings, Inc. has made notable hire, bringing Seth Krauss on board as their new Chief Legal and Administrative Officer. This hiring comes as part of a Term Employment Agreement that took effect on January 1, 2024, and is set to expire on December 31, 2027.
As Chief Legal and Administrative Officer, Seth Krauss will report to TKO’s President or Chief Operating Officer, currently held by Mark Shapiro, or any successor in those positions. The Agreement allows Mr. Krauss to continue providing services in his role and position at Endeavor Group Holdings, Inc., Endeavor Operating Company, LLC, and their respective subsidiaries, with potential modifications to his roles and positions.
The Agreement outlines an annual base salary of $2,000,000 for the duration of the term. This base salary will be pro-rated for any partial calendar year and is subject to potential increases as approved by TKO’s Board of Directors or their delegates, known as the “Governing Body.”
Additionally, Mr. Krauss will be eligible for a discretionary annual bonus for the fiscal year 2023, followed by annual bonuses during the term of the Agreement. These annual bonuses will have a target bonus amount of $2,000,000 and will be determined based on performance metrics linked to TKO’s performance, as determined by the Governing Body in good faith.
Seth Krauss’s appointment as Chief Legal and Administrative Officer reflects TKO Group Holdings, Inc.’s commitment to strengthening its leadership team and legal functions as they move forward in their business endeavors.
The hiring of Seth Krauss as Chief Legal and Administrative Officer at TKO Group Holdings, Inc. is a significant move for the company. With his extensive experience and background in legal and administrative matters, he is poised to play a crucial role in TKO’s future endeavors. What do you think this appointment signifies for TKO Group Holdings, Inc., and what impact might Seth Krauss have on the company’s operations and strategies moving forward? Let us know in the comments.