Analyst On WWE: The Company 'May Have To Look Outside For A CEO'
Brian Sozzi of Belus Capital Advisors responded to comments made about World Wrestling Entertainment, Inc. (NYSE: WWE) CEO Vince McMahon by his son-in-law Paul Levesque, best known by his character name Triple H.
On a podcast with former wrestler Steve Austin, Levesque put some blame for WWE’s problems on Vince McMahon, saying, “The beauty of what makes WWE work is that there's one man, one man calling the shots, right, and that's Vince.”
In a story on Cageside Seats (a site under the Sports Nation umbrella), Keith Harris noted that “part of the blame has to fall on Hunter's broad shoulders too, not just Vince McMahon's,” because Hunter is WWE's Executive Vice President of Talent, Live Events & Creative and, as such, he should not be able to hide from investors behind McMahon.
Sozzi told Benzinga, "I agree with the point. Triple H should start being introduced to investors, as well as [McMahon’s] daughter Stephanie. Or you get the sense the company may have to look outside for a CEO to succeed."
Shares of WWE recently traded at $12.49, nearly unchanged.
Shares are up about 21 percent since the company announced positive WWE Network subscriber numbers.
Jason Shubnell contributed to this article.
Latest Ratings for WWE
|Oct 2016||Wells Fargo||Downgrades||Outperform||Market Perform|
|Oct 2016||KeyBanc||Downgrades||Overweight||Sector Weight|
|Oct 2016||Deutsche Bank||Downgrades||Hold||Sell|
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