Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
WeWork Inc. WE, +3.96% said Monday it has promoted Interim Chief Executive David Tolley to the role of permanent CEO. Tolley has been a board member since February and interim CEO since May.
The troubled office-sharing company said Tolley was chief financial officer of Intelsat SA from 2019 to 2022. He has also done stints at private equity firm Blackstone and at Morgan Stanley. The stock was up 0.4% premarket but has fallen 96% in the year to date, while the S&P 500 SPX, -0.50% has gained 12.7%.
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