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In the news:
The context: Things have been going badly for some time with the American office rental company, once the standard-bearer of the "new way of working. The company, which has completely distanced itself from Neumann in the recent past, filed for a moratorium through Chapter 11 proceedings late last year to shelter itself from creditors.
Pro memoria:
- Neumann had to step down as founder-CEO in the fall of 2019, as there were indications that he was thinking more about his personal wealth than the well-being of the coworking company.
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Despite some questionable real estate deals, he did manage to negotiate a generous exit settlement, good for a whopping
$445 million . The proceeds now allow him to co-fund any takeover bid.
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