WeWork sued over an ousted CEO’s “golden parachute”
Sojka stated, that Neumann and WeWork investor SoftBank of mishandling their office’s power and hurting the interests of other shareholders. She believes, that a large compensation will seriously impact everyone’s financial situation. WeWork described Sojka’s claims as "meritless".
Neumann's late career in the company has been controversial. He left his post as a CEO in September. The most notable part of his “legacy” is WeWork’s damaging failure to increase its revenue via a stock market. When this plan failed, WeWork received a large investment from SoftBank, which came with a detailed exit plan for Neumann, which was approved by the board despite the company’s financial difficulties.
WeWork is currently planning a more lean model of operations and is expected to cut thousands of jobs. The value of company’s shares is steadily declining.