WeWork appoints David Tolley as permanent CEO; Paul Keglevic named Board Chair

WeWork Inc.

David Tolley named permanent CEO; base salary $2.875M, target bonus 100% of base (suspended), plus $400K discretionary and $500K one-time cash.
Paul Keglevic appointed Chair of the Board effective Sept 1, 2023.
Tolley has served as Board member since Feb 2023 and interim CEO since May 2023; transformation includes lease renegotiations and operational efficiency.
Severance: if terminated without Cause before 1st anniversary, cash severance equals base salary + target bonus; after 1st anniversary, 2x sum.

item 5.02 item 7.01 item 9.01

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Appointed

David Tolley

Chief Executive Officer

WeWork Inc.

Effective: 2023-10-10
Filed: October 16, 2023, 7:59 PM ET

On October 10, 2023, the Board of Directors (the “Board”) of WeWork Inc. (the “Company”) appointed David Tolley as the Company’s Chief Executive Officer (“CEO”) on a permanent basis.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

David Tolley was appointed as Chief Executive Officer at WeWork Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On October 10, 2023, the Board of Directors (the “Board”) of WeWork Inc. (the “Company”) appointed David Tolley as the Company’s Chief Executive Officer (“CEO”) on a permanent basis.

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Source: SEC EDGAR

accession 0001193125-23-256554

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