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WWE CFO Steps Down

Jan 7, 2005  •  Post A Comment

World Wrestling Entertainment said Thursday that Phil Livingston is resigning as the company’s chief financial officer and as a member of the board after 21 months at the company.

Mr. Livingston will be replaced on an interim basis by Frank Serpe, senior VP of finance, while the company launches a search for a permanent CFO.

A WWE spokesman said Mr. Livingston, who joined the company in March 2003, was brought in with specific orders to improve the company’s investor and analyst relations and financial planning systems and to prepare the company for an array of corporate governance rules that have taken effect during the past two years. With a lot of his goals largely accomplished, the spokesman said, Mr. Livingston felt it was time to try something different.

CEO Linda McMahon lauded Mr. Livingston’s expertise in corporate governance and the work he did preparing the company for new corporate governance rules.