In August 2020, WWE hired Nick Khan as their company President, following the departures of co-Presidents George Barrios and Michelle Wilson.
Both Barrios and Wilson were cut from the company, just one week before the company\'s 2019 Q4 Earnings report, and the act caused stock in WWE to fall by over 20%.
Khan joined WWE at a difficult time, as the company had spent months without live fans due to the COVID-19 pandemic, and it would be just under a year before fans would return on a permanent basis.
Taking the Blame
Around the time WWE hired Khan, the promotion was laying off several members of the roster.
This process began in April 2020, months before Khan was hired as WWE President, but many considered him a factor in the mass releases.
The releases, cited as due to \'budget cuts,\' were deemed unnecessary by some, as they came at a time when the promotion was making record profits.
Khan didn\'t exactly do himself any favors, saying he\'s happy to take the blame for fans\' unhappiness and the releases.
Not His Fault
Many fans saw Khan as the reason behind the budget cuts, with the then-WWE President still being blamed to this day.
Speaking to Ariel Helwani of BT Sport, Triple H refuted the idea that Khan bore any responsibility for the cuts (via ITR Wrestling.)
There was a period of time… where the whole world was like, ‘That damn Nick Khan.’ It just makes me laugh. He had zero to do with those decisions that are happening, the poor guy. He’s just getting battered online for having zero to do with any of those stories.”
Triple H on Nick Khan.
Promotion
After a year as WWE President, Khan was promoted to Co-CEO, a role he shares with Stephanie McMahon.
Khan\'s promotion came following the retirement of Vince Mcmahon in July, a month after stepping down as CEO and Chairman of WWE.
In his place, Frank Riddick has been appointed WWE President after previously serving as Chief Financial Officer.
