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. 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, saying more diverse boards make better decisions.
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