Wilhelmina Models not renewing CEO Bill Wackermann’s contract

Wilhelmina is not renewing CEO Bill Wackermann’s contract, Page Six has learned.

On Oct. 28, the modeling agency notified him he’ll remain employed “at will” starting in January. “ ‘At will’ means the board of directors could ask him to leave or he can say, ‘I want to go,’ ” an insider said.

Under Wackermann, several agents and directors, including his No. 2, Taylor Hendrich, left for competing agencies. Wilhelmina sued five, alleging they violated contracts. The group countered in court docs they left a “hostile work environment.” The suit was later discontinued by both parties.

Wilhelmina had no comment on his contract, but Wackermann told us: “We strive to change the industry and set the standard for professionalism, accountability and protection of our talent. Over the past six months, that has meant getting rid of some bad apples … and a few rotten ones.”

He added, “These strategic decisions have not slowed us down or played a role in my and the [board’s] mutual decision to move from a contract to an at-will employment agreement. This is standard executive practice after what has been multiple contract renewals and four incredible years of growth, success and business development.”

Congrats?

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