WeWork owner The We Company took some steps on Wednesday to burnish its appeal t...
NEW YORK - WeWork owner The We Company took some steps on Wednesday to burnish its appeal to investors ahead of its initial public offering by adding a woman, Frances Frei, to its all-male board and announcing that its CEO would return a $5.9 million payment for use of the trademarked word “We.”
The moves follow investor criticism of We Company’s IPO filing last month, which revealed extensive and unusual ties between the office space sharing startup and its controlling shareholder, CEO Adam Neumann, including him being a landlord to the company on some properties. “These are positive steps,” said David Erickson, a senior fellow and finance lecturer at the University of Pennsylvania’s Wharton School.
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