The World Wrestling Entertainment (WWE) has announced Kristina Salen as the new Chief Financial Officer. She will assume office on August 3 and report directly to WWE Chairman & CEO Vince McMahon.
Kristina brings with her confidence and experience of growing Etsy business from $895 million in gross sales to $3 billion in four years as the first CFO of the Company.
She had led and executed the company’s IPO offering, and built and managed its Business Development, Strategic Planning, Investor Relations, Accounting, Tax and Data Analytics functions.
She has also been in the CFO/COO roles with Moda Operandi and Translation Enterprises/United Masters, and managed global media and telecom funds with Fidelity Investments.
Earlier in her career, Kristina has also served in a financial analyst positions with Oppenheimer Capital, Merrill Lynch Investment Managers and Lazard Freres & Co. She sits on the Board of Directors and Audit Committee for both SiriusXM and Cornerstone OnDemand.
Kristina has reportedly been offered an annual salary package of $730,000 with add on cash incentives of up to 50% of her as per the company policies. She will also be entitled for $500,000 in the company’s Class A common stock.
However, on the performance front it will be a baptism by fire for her. She is stepping into the WWE corporate ring at a time when a sharp fall in the ratings of the premier television ratings has led to a decline in its stock values. This has also prompted McMohan to reshuffle the WWE top management.
The ratings are hit hard due to the impact of the COVID-19.
Long-time chief financial officer George Barrios and chief revenue & marketing officer Michelle Wilson were forced out of the company’s board of directors over differences of opinion about the company strategy, with WWE announcing at the time that it would begin a search for permanent replacements.
Salen has previously served as the CFO of UnitedMasters, a company that uses proprietary data to help artists independently grow their fanbases.Prior to that, she spent four years as the chief financial officer of Etsy, an e-commerce website selling vintage items and craft supplies.