WeWork considering curbing Neumann’s voting power to save IPO: source

By Joshua Franklin (Reuters) - 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. In the run up to its IPO, WeWork has faced concerns over its corporate governance standards, as well as the sustainability of its business model, which relies on a mix of long-term liabilities and short-term revenue, and how such a model would weather an economic downturn.

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