Product details

Founded in 2010 by Adam Neumann (Neumann), the US-based WeWork Inc (WeWork) created office space and environments for people and companies. WeWork became a leading global flexible space provider revolutionising the office market, offering trendy locations and free beer. As a unicorn worth USD47 billion, the WeWork brand was strongly tied to Neumann's flamboyant, freewheeling lifestyle and his mission to elevate the world's consciousness. The CEO's lifestyle and failure of the initial public offer in 2019 led to the ouster of Neumann as CEO from WeWork. In 2020, Sandeep Mathrani (Mathrani) was appointed as CEO to lead WeWork. Following the departure of Mathrani who was leading the growth-led strategic transformation of WeWork in May 2023, David Tolley (Tolley) was made interim CEO. In October 2023, Tolley who had been a veteran of complex bankruptcy restructurings was tasked to drive WeWork's continued transformation as CEO. Within a month, WeWork filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code to reorganise and strengthen its finances. Analysts wondered whether WeWork, under Tolley's leadership, would be able to emerge as a better company post-bankruptcy.