New WeWork co-chief executives in line for $17m golden parachute payouts

We continue to be grateful that WeWork is not publicly held. And we continue to think that it is long past time for SoftBank’s investors to express some very significant concerns.

WeWork’s new bosses will be handed a $17m (£13m) golden parachute if they are ever kicked out of the troubled office letting company, documents show.

Co-chief executives Artie Minson and Sebastian Gunningham, who took over from ousted founder Adam Neumann in September, are in line for $8.3m each if they are sacked or removed from their roles.

The exit deals were agreed in the run-up to Japanese investment firm SoftBank’s $9.5bn bailout of WeWork after its bid to float on the stock market backfired disastrously.

WeWork was weeks from running out of cash when it was thrown the lifeline by Softbank in exchange for an 80pc stake in the company.

via WeWork co-chief executives in line for $17m golden parachute payouts

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