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).