WeWork to Bring in New Leadership Amid Expected Emergence From Bankruptcy Restructuring

Dow Jones06-11

By Denny Jacob

WeWork plans to name a new chief executive following an expected emergence from a bankruptcy restructuring.

The shared office space company's pending leadership change comes as David Tolley intends to step down as CEO and a director, with the transition tied to the emergence from Chapter 11 which is expected to take place Tuesday. WeWork plans to name a new CEO as well as a new board of directors at that time.

Tolley joined WeWork in February 2023, initially as a board member and then as CEO.

WeWork in late May won court approval for a bankruptcy restructuring that will let it make a new run at the co-working business as a smaller, private company under new ownership.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

June 11, 2024 11:54 ET (15:54 GMT)

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