The curious leadership style of the board of directors of World Wrestling Entertainment, Incorporated (NYSE/NASDAQ: WWE) has again perplexed the business community and financial experts around the globe.
The company is currently in the midst of something of a power struggle between two longtime holders of upper-management positions, Theodore Long and John Laurinaitis. The board has concluded that the continued employment of both men is an impossibility. Such a scenario in and of itself isn’t all that unusual within the corporate world, particularly in a situation in which the company has a sizable entertainment component.
The unusual part is the method by which the company’s board will resolve the dilemma of which of the two mutually-exclusive employees to release.
The board issued a statement* this morning that I found to be remarkable in many respects. The document speaks for itself, but I’ve provided some annotations below to add context to the underlying substance. The take-home point is that the manner in which the corporate arm of WWE makes critical personnel decisions is totally foreign to the normal conduct of American industry:
I think the smart money is on Laurinaitis. He’s a ranking WWE executive, whereas this Long person holds no executive position insofar as I can tell, although he does have some impressive credentials. I suppose we’ll find out at WrestleMania 28 which employee will be retained. Appropriately enough (considering this company’s laughable business practices), the event takes place on April 1st.