WeWork said CEO David Tolley would step down after the flexible workspace provider emerges from bankruptcy later on Tuesday and the company will name a new top boss.
Late last month, WeWork received approval from a US bankruptcy judge for a restructuring plan.
Once privately valued at about $47 billion, WeWork expanded at a breakneck pace but racked up steep losses on its over-extended real estate portfolio before filing for bankruptcy protection in November 2023.
Since joining WeWork in February 2023 - initially as a board member and then as CEO - Tolley led the company through a tumultuous period that saw major operational and financial revamps.
Published 11 June 2024, 16:29 IST