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BREAKING NEWS

WeWork adds woman to its board ahead of IPO after backlash

WeWork adds woman to its board ahead of IPO after backlash
FILE PHOTO: The WeWork logo is displayed outside of a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid -
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Brendan McDermid(Reuters)
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NEWYORK (Reuters) – WeWork owner The We Company said on Wednesday it will add a woman to its board of directors and unwound a $5.9 million (£4.8 million)

payment to its chief executive for use of the trademarked word “We” ahead of a planned initial public offering.

The moves come after criticism of We Company’s IPO filing last month, which showed it planned to go public with an all-male board and disclosed the payment to Chief Executive Adam Neumann’s company. 

“Frances Frei will join our board of directors upon the completion of this offering,” the company said in an amended filing for its planned IPO. “She currently serves as a Professor of Technology and Operations Management at Harvard Business School, and has provided human resources consulting services to The We Company since March 2019.”

(Reporting by Joshua Franklin in New York; Editing by Bernadette Baum)

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