A principal WWE executive has sold some of his WWE stock over the past couple of months. One of the most powerful men in the WWE’s board of directors, Kevin Dunn, allegedly sold 125,000 of his shares, leading many to speculate the executive is heading out the door. Here is the story.
Selling Up or Profiting?
Kevin Dunn allegedly sold 100,000 of his shares in July, which then averaged at $79.18 per share; this left him with a hefty cash-in of $7.918 million! He sold another 25,000 shares on September 6th, with each stock share worth $86.87! It is believed he has collected $10,089,750 from the sales.
Naturally, an executive board member selling that amount of shares raises eyebrows in some circles. Some believe Kevin Dunn is ready to close down shop at step aside as one of the board members of the WWE. Other believe he is solely cashing in on WWE’s current stock prices.
At this point, it seems that Kevin Dunn has quite a few shares left, meaning he is still one of the highest ranking board members within the WWE. Dunn has been with the company since 1984 and remains one of the most powerful men within the company. Even though it is unlikely he is stepping down, he will undoubtedly enjoy a nice bit of money when he does.
Named as Wrestling’s Number One Enemy
Despite being one of the WWE’s most powerful men, he is not exactly beloved by wrestling fans. Some people claim he is wrestling’s number one enemy. There are even allegations that Dunn has clashed with numerous WWE superstars, including Stone Cold Steve Austin.
One of the reasons why many wrestling fans know little about Kevin Dunn or his existence is the fact that he runs the show behind the scenes. A lot of die-hard wrestling fans hate the man with a vengeance. He is responsible for the implementation of the so-called “sports entertainment” term, and the frequent camera-cuts during matches that make some fans dizzy. He is believed to have canceled a lot of brilliant wrestling ideas along the way. Still, it is speculation at this point, mainly because none of us knows what is really going on within the WWE boardroom.
The reputation of Kevin Dunn within the wrestling industry is murky at best. He is known as a businessman first and foremost, with little interest or love for the wrestling business. Dunn selling his shares has therefore been received well by die-hard wrestling fans. Still, until Vince retires and Triple H takes the reigns of the company, I do not believe Kevin Dunn has made his last change in the company’s structure yet.
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Categorized: Ringside Intel Sports Wrestling