Adam Neumann ’s decision to step down as CEO of the We Company does not necessarily change the health of the firm or clear the way for an IPO, according to the We Company ’s Shira Ovide . When a controversial chief executive officer steps down from his post, it’s usually just the beginning of an ugly cleanup. The company needs a major overhaul, something that takes time and second -class management, Ovide wrote. She questioned whether the current board members are suitable stewards of the company, given the role they have played to date. But, Bankers needs a lot of cash, soon. Bloomberg and some We executives have reportedly been discussing cutting headcount by 33% , slowing growth and shutting non-core businesses.
Adam Neumann ’s decision to step down as CEO of the We Company does not necessarily change the health of the firm or clear the way for an IPO, according to the We Company ’s Shira Ovide . The company needs a major overhaul, something that takes time and second -class management, Ovide wrote. She questioned whether the current board members are suitable stewards of the company, given the role they have played to date. But, Bankers needs a lot of cash, soon. Bloomberg and some We executives have reportedly been discussing cutting headcount by 33% , slowing growth and shutting non-core businesses.