WeWork owner The We Company's executives, investors and advisers are discus...
- WeWork owner The We Company’s executives, investors and advisers are discussing curbing the voting power of founder Adam Neumann and removing his co-founder wife from a role in succession planning, a person familiar with the matter said on Thursday.
An announcement on the corporate governance could come as soon as Friday, the source said, cautioning that the plans are still subject to change and that no final decision has been made. Revising Neumann’s supervoting rights, which give him 20 times the voting power of ordinary shareholders, was among the changes being discussed, the source said.
We Company co-founder Rebekah Neumann, Adam Neumann’s wife who is the company’s chief brand and impact officer, will pick his successor if he dies or is permanently disabled in the 10 years following the IPO, alongside two company board members. She will get to pick those board members if two people currently on the board, Bruce Dunlevie and Steven Langman, step down.
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