WWE EXECUTIVE RESIGNS
By: Joey Styles
1/6/2005 5:46:56 PM
Press Release Source: World Wrestling Entertainment
World Wrestling Entertainment-R- CFO Livingston Steps Down
Thursday January 6, 4:58 pm ET
STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 6, 2005--World Wrestling
Entertainment (NYSE: WWE - News) announced that effective today,
Philip Livingston will step down as the company's Chief Financial
Officer and as a member of the Board of Directors. "We appreciate
Phil's contributions during his tenure with WWE®. Part of Phil's
charge when he joined WWE was to improve our investor relations and
accounting and planning systems, and those goals have been
successfully met. In addition, Phil's expertise in corporate
governance and Sarbanes-Oxley has helped prepare us for our SOX 404
compliance. We wish him the best of luck in his future endeavors,"
said Linda McMahon, WWE CEO.
Frank Serpe, Senior Vice President, Finance, will serve as acting
CFO while WWE continues its executive search for a new CFO.
Livingston's bio from the WWE corporate website reads as
follows:
Philip B. Livingston, Chief Financial Officer
Phil Livingston has served as World Wrestling Entertainment, Inc.'s
Chief Financial Officer since March 2003 and is a member of the
Executive Committee. Prior to that, Mr. Livingston served as
President and Chief Executive Officer of Financial Executives
International and had significant participation in the formulation
and passage of the Sarbanes-Oxley Act of 2002. Mr. Livingston also
served as CFO for Catalina Marketing Corporation (NYSE: POS) and
Celestial Seasonings. He currently serves as a director and chair
of the audit committee of Cott Corporation (NYSE: COT) and
Insurance Auto Auction Inc. (NASDAQ: IAAI).