When WeWork co-founder Adam Neumann stepped down as CEO last September amid a string of controversies, he landed a massive exit package from WeWork investor SoftBank, which took over the embattled company, that included a $185 million consulting deal.
But Neumann may have invalidated that contract after he "may have violated" its terms, WeWork executive chairman Marcelo Claure suggested Monday during a virtual event hosted by"I don't think that consulting agreement is still in force," Claure said, according to The Wall Street Journal, adding: "I think Adam may have violated some of the parts of the consulting agreement, so that's no longer in effect.
Claure, who is also the COO, executive vice president, and a board director at SoftBank, didn't say which terms Neumann allegedly breached because it relates to an ongoing lawsuit over Neumann's exit package, but added that the former WeWork CEO and chairman had been "incredibly helpful" when SoftBank stepped in to rescue WeWork, The Wall Street Journal reported.
WeWork, SoftBank, and a spokesperson for Neumann did not respond to requests for comment on this story.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the Amex Centurion Lounge at JFK Airport; tour, photos, details - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. EndSARS EndBadGovernmentinNIGERIA EndPoliceBrutalityinNigeria 🔥 Check It Out 🔥 Fantastic very clean and elegant
Source: BusinessInsider - 🏆 729. / 51 Read more »
Why I'm happy to pay $70 a month for term life insurance - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Trump's campaign nearly went broke for the 2020 homestretch, insiders say - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you want to start a new business on an online platform it is very important to have social media profiles according to your business. So, Don't waste time! Hire me, I will set up social accounts for you at a cheap rate. Order visit & see my services: Name who your insiders are A must watch, documentary about trump administration handle COVID-19.. available on Amazon.. TOTALLY UNDER CONTROL Trailer (2020) Coronavirus, President Trump ..
Source: BusinessInsider - 🏆 729. / 51 Read more »
The insider's guide to getting a job at Blackstone - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
17 tips to save money when starting a new business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »