WeWork agrees restructuring deal that shuts out Adam Neumann's comeback bid
https://www.ft.com/content/fbfb03c6-c23b-4f42-8ea5-c2c084829827
Automated Summary
WeWork has agreed to a restructuring deal that prevents former CEO Adam Neumann from regaining control of the company. The deal is supported by significant stock sales by SoftBank, one of WeWork's major investors. The agreement includes the resignation of two WeWork directors appointed by Neumann and reduces Neumann's voting power. SoftBank will now have majority control of the company. The deal aims to allow WeWork to focus on its business operations and recovery from the financial impact of the COVID-19 pandemic.
Side note / point: I'm a current WeWork customer and have been incredibly impressed with the consistency of their offering. Every location is the same (in a good way)... Even down to the coffee, art, phone booths, etc.
Has anyone logged or written about how WeWork manages such consistency, especially during seemingly tumultuous times?
Counterpoint - many years ago I was a WeWork customer, and it was definitely the worst coworking space I had ever used. Noisy, rude, totally inflexible. After I left, it only lasted 12 months or so before that location was shut down (permanently, it seems).
Ugh: https://archive.ph/7Fp3n