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Some WeWork Board Members Seek to Remove Adam Neumann as CEO

wsj.com

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Re: Some WeWork Board Members Seek to Remove Adam Neumann as CEO

#11

Post by ohduran »

moltensodium wrote: post #10
ben_jones wrote: post #4

Playing Devil's advocate imagine having potentially millions of dollars invested in tearing you apart - going through every piece on online history, video, etc., trying to find something juicy to tank the company you've tried so hard to build.

What company? What was built? It's a money destruction machine, not a business. They have no plans or experiments or research moonshots that they expect to be profitable, ever.

People seem to forget that a lot: losing your shareholder's money isn't a business.

Re: Some WeWork Board Members Seek to Remove Adam Neumann as CEO

#16

Post by throwaway2048 »

CalChris wrote: post #7
ben_jones wrote: post #4

Playing Devil's advocate imagine having potentially millions of dollars invested in tearing you apart - going through every piece on online history, video, etc., trying to find something juicy to tank the company you've tried so hard to build.

I see your point but WeWork hasn't IPO'd yet. So there are no short sellers yet.

blaming "short sellers" is a slightly more sophisticated sounding "haters gonna hate" in most situations, but in reality its equally as dumb.

Re: Some WeWork Board Members Seek to Remove Adam Neumann as CEO

#17

Post by jeremyjh »

> Mr. Neumann still has allies among the directors and the ability to fire the entire board thanks to shares he controls that carry extra votes.

It defies imagination that a fund would put 10B into a company whose CEO is accountable to no one. I think we may also see new leadership in SoftBank, or at least their next fund.

Re: Some WeWork Board Members Seek to Remove Adam Neumann as CEO

#18

Post by elliekelly »

ben_jones wrote: post #4

Playing Devil's advocate imagine having potentially millions of dollars invested in tearing you apart - going through every piece on online history, video, etc., trying to find something juicy to tank the company you've tried so hard to build.

Imagine trying so hard to build a company and getting to the 11th hour before the IPO and being stymied by something as simple as basic corporate governance.

That’s like trying to launch a tech company but “forgetting” to set up the servers and hoping if you talk about your vision and say “We” enough no one will notice/mind.

Re: Some WeWork Board Members Seek to Remove Adam Neumann as CEO

#20

Post by ink_13 »

jeremyjh wrote: post #17

> Mr. Neumann still has allies among the directors and the ability to fire the entire board thanks to shares he controls that carry extra votes. It defies imagination that a fund would put 10B into a company whose CEO is accountable to no one. I think we may also see new leadership in SoftBank, or at least their next fund.

This is true of many large companies today, though. Facebook comes to mind.
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