• 0
  • Home
  • About Us
  • What We Do
  • Register

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do
  • Register

WeWork co-CEOs will land $17M if they leave

WeWork co-CEOs Sebastian Gunningham and Artie Minson (Credit: Getty Images and Twitter)
WeWork co-CEOs Sebastian Gunningham and Artie Minson (Credit: Getty Images and Twitter)

It may not be $1.7 billion, but it’s still a pretty penny.

WeWork’s co-CEOs Artie Minson and Sebastian Cunningham will get about $17 million in exit packages if they are fired or leave WeWork, according to the Financial Times. They would each receive $8.3 million.

Jennifer Berrent, the company’s chief legal officer, would get $1.5 million if she is fired or leaves, and she would not have to pay back $12 million in retention bonuses.

Shareholders received the terms of exit packages ahead of a $3 billion tender offer from SoftBank for shares. Those documents also acknowledge that WeWork could still see a large amount of senior management turnover moving forward.

WeWork co-founder Adam Neumann’s $1.7 billion exit packages already stirred controversy, especially as the company moved to layoff thousands of employees. [Financial Times]  — Eddie Small

Read more

  • Adam Neumann could reap $2B from WeWork golden parachute
  • SoftBank takeover would bring WeWork’s valuation down to $8B
  • No more delays: SoftBank launching WeWork stock tender offer

The post WeWork co-CEOs will land $17M if they leave appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 30 December 2019
  • The Real Deal
  • Uncategorized
  •  Like
LA landlords pitch controversial ownership arrangement as rent law kicks in →← These were the world’s hottest luxury markets in the 2010s
  • Recent Posts

    • Long Beach to add new tiny homes, Project Homekey housing February 11, 2023
    • Hudson Pacific betting on “next Amazon or next Google” to spur office market February 10, 2023
    • City of LA’s price to hike rent by more than 10% on 2-bedroom place: $8,400 February 10, 2023
    • Inland Empire development icon dies after mountain summit February 10, 2023
    • Brentwood Park trophy home listed for $30M February 10, 2023
  • Recent Comments

    • Archives

      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      3550 Wilshire Blvd, # 1064
      Los Angeles, California 90010
      +1 213-427-1127

    © 2023 GPAM