McKelvey’s exit comes as WeWork, majority owned by SoftBank Group Corp , was hit hard by the COVID-19 pandemic which affected its core business and weighed heavily on its occupancy rates.
Since taking over as WeWork’s chairman, SoftBank executive Marcelo Claure has overhauled the office-sharing startup’s top management and brought in several executives including CEO Sandeep Mathrani, as part of his broader strategy to turn around WeWork. WeWork has gone through a tumultuous period since abandoning its initial public offering in September and was forced to push out co-founder Adam Neumann last year, after SoftBank and other shareholders turned on him over his management style, his numerous conflicts of interest and his handling of the IPO.
reuters WeWork co-founder Miguel McKelvey will leave the company at the end of June. WeWork, majority owned by SoftBank Group Corp (9984.T), was hit hard by the COVID-19 pandemic. SoftBank has invested more than $13.5 billion in WeWork to date. The (1/2)
June: co-founder of WeWork July: founder of IDontWork
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