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 US$5.9 million payment for use of the trademarked word"We."
"These are positive steps," said David Erickson, a senior fellow and finance lecturer at the University of Pennsylvania's Wharton School. Frei, a professor of technology and operations management at Harvard Business School, will join WeWork's board once it completes the IPO, planned for later this month.The We Company had originally planned to go public with an all-male seven-member board, a practice major investors such as BlackRock Inc frown upon https://de.reuters.
The deal to pay Neumann for use of the"We" trademark came after the decision to rebrand WeWork as the We Company earlier this year.
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