The lesson from the teetering WeWork IPO is that governance really does matter
There are many useful lessons from the current We Co. saga, not the least of which is the continuing, broad-based value of traditional governance practices such as independent leadership, accountability and conflicts avoidance.
Several of these have attracted specific media attention. For example, an early We Co. investor reportedly holds several oversight roles in the company while simultaneously co-managing an investment entity that acquires property for the purposes of eventual lease to WeWork. Mr. Neumann, the CEO, is said to hold personal ownership positions in buildings leased by WeWork. Several senior WeWork executive positions are reportedly held by Neumann family members or friends. A We Co.
But equally significant, from a broader governance perspective, is the extent to which WeWork has responded to these investor concerns .
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