WeWork’s new co-CEOs seems wanting to make a sharp break from Adam Neumann’s reign.
Anupreeta Das and Maureen Farrell reported Thursday that Artie Minson and Sebastian Gunningham planning to expel some 20 families and friend’s members of Neumann as a part of an effort to overtake the company and its management. Michael Gross, a longtime good friend of Neumann who serves as WeWork’s vice-chair, and Chris Hill, the company’s chief product officer, also a brother-in-law of Rebekah.
News had previously reported that Hill was slated to leave, along with Roni Bahar, WeWork’s director of development, and Zvika Shachar, it is head of global security.
Along with Gross and Hill, The Journal reported that around ten employees who immediately informed to Neumann in a group named the “oval office” would even be leaving the company. It was unclear if Bahar and Shachar have been a part of the “oval office.” Rebekah Neumann is also stepping down from her roles at the company; the newspaper reported earlier this week.
WeWork representatives didn’t immediately reply to an email looking for comment.
WeWork has $6 billion riding on the timing and success of its IPO. A collection of lenders, including JPMorgan, have promised to provide it a credit line of up to that amount if it raises $3 billion in a public offering by the end of this year, though they might change the terms of that agreement.