WWE® Elects Steve Koonin, Connor Schell & Nick Khan to Board of Directors
WWE (NYSE: WWE) has elected three new members to its Board of Directors: Steve Koonin, Connor Schell, and Nick Khan. Vince McMahon, WWE Chairman & CEO, emphasized their extensive experience in media as beneficial for the company. Koonin is currently CEO of the Atlanta Hawks and has held key roles at Turner Entertainment Networks and Coca-Cola. Schell, an award-winning producer, previously worked at ESPN. Khan, WWE's President & Chief Revenue Officer since August 2020, has significant experience in media rights negotiations.
- Addition of three experienced media executives to the Board may enhance strategic decision-making.
- Koonin and Schell bring valuable insights from their successful careers in major entertainment sectors.
- Khan's existing role and experience within WWE may ensure continuity in leadership.
- Concerns about potential gaps in experience with the unique challenges facing WWE as an entertainment company.
WWE (NYSE: WWE) today announced that Steve Koonin, Connor Schell and Nick Khan have been elected to its Board of Directors.
“The addition of Steve, Connor and Nick provides WWE and its Board with some of the most accomplished executives in media,” said Vince McMahon, WWE Chairman & CEO. “With such proven track records across our industry, we look forward to their insight and contributions as members of our Board.”
Koonin is the Chief Executive Officer of the NBA’s Atlanta Hawks and State Farm Arena, a position he has held since April 2014. Previously, Koonin served as the President of Turner Entertainment Networks overseeing TNT, TBS, truTV and TCM, following a 14-year run with The Coca-Cola Company where he led marketing and advertising operations.
Schell is the founder and Chief Executive Officer of a new unscripted content venture announced with Chernin Entertainment. An award-winning producer of film and television, Schell previously served as Executive Vice President, Content at ESPN. In that role, he was responsible for the development and production globally of all live event, studio, and original content across ESPN’s platforms, products and services.
Khan has served as WWE President & Chief Revenue Officer since August 2020. Previously, Khan was Co-Head of the Television Department at Creative Artists Agency LLC (CAA), where he represented top broadcasters while also helping to negotiate billions of dollars in media rights deals on behalf of WWE, the Southeastern Conference (SEC) and Top Rank Boxing. Khan was a practicing attorney prior to becoming an agent.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 900 million homes worldwide in 28 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all live pay-per-views, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network. The Company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, Orlando, Dubai, London, Mexico City, Mumbai, Munich, Riyadh, Shanghai, Singapore and Tokyo.
Additional information on WWE (NYSE: WWE) can be found at wwe.com and corporate.wwe.com.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to: the impact of the COVID-19 outbreak on our business, results of operations and financial condition; entering, maintaining and renewing major distribution agreements; a rapidly evolving media landscape; WWE Network (including the risk that we are unable to attract, retain and renew subscribers); our need to continue to develop creative and entertaining programs and events; the possibility of a decline in the popularity of our brand of sports entertainment; the continued importance of key performers and the services of Vincent K. McMahon; possible adverse changes in the regulatory atmosphere and related private sector initiatives; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate and greater financial resources or marketplace presence of many of our competitors; uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; the complexity of our rights agreements across distribution mechanisms and geographical areas; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events including without limitation, claims alleging traumatic brain injury; large public events as well as travel to and from such events; our feature film business; our expansion into new or complementary businesses and/or strategic investments; our computer systems and online operations; privacy norms and regulations; a possible decline in general economic conditions and disruption in financial markets; our accounts receivable; our indebtedness including our convertible notes; litigation; our potential failure to meet market expectations for our financial performance, which could adversely affect our stock; Vincent K. McMahon exercises control over our affairs, and his interests may conflict with the holders of our Class A common stock; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could lower our stock price; and the volatility of our Class A common stock. In addition, our dividend is dependent on a number of factors, including, among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital), our financial results and condition, contractual and legal restrictions on the payment of dividends (including under our revolving credit facility), general economic and competitive conditions and such other factors as our Board of Directors may consider relevant. Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210601005665/en/
FAQ
Who are the new Board members elected by WWE?
What positions do the newly elected Board members hold?
What is Vince McMahon's statement regarding the new Board elections?
What impact might the new Board members have on WWE?
