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

Co-founder Adam Neumann’s $1.7B deal ruffled feathers among WeWork employees

Dec.December 30, 2019 08:47 AM
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

Related Articles

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork CEO Adam Neumann (Credit: Getty Images and iStock)

WeWork’s side businesses are fizzling

Sarah Pontius (Credit: Union College)

Another head rolls at WeWork

Robert Reffkin and Kristen Ankerbrandt

Compass to lay off marketing, IT and M&A staffers

WeWork executive chairman Marcelo Claure (Credit: iStock, Getty Images)

SoftBank-backed Gympass signs big WeWork office deal

The Wing CEO Audrey Gelman, WeWork co-CEO Artie Minson, and Teem CEO Shaun Ritchie (Credit: Getty Images, WX Summit)

WeWork offloads stake in the Wing and software startup

Softbank Vision Fund senior managing partner Deep Nishar (Credit: SoftBank, Wikipedia)

“We are still in it”: SoftBank still believes in WeWork’s core business

Crown Prince Sheikh Mohammed bin Zayed Al Nahyan of Abu Dhabi, Softbank CEO Masayoshi Son, and former British Prime Minister Tony Blair (Credit: Getty Images)

Masa Son, the crown prince of Abu Dhabi and Tony Blair walk into a bar and decide to build a $34B city in Asia