WeWork's IPO raises concern

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Concerns about corporate governance practices at WeWork emerge as the company files for IPO. Adam Neumann, WeWork’s co-founder, exercises outsized influence over the company, through the multi share system that grants Neumann 20 times the voting powers of ordinary shareholders. This is the third IPO where voting shares are 20 to one, after Lyft and Pinterest. Although the board includes independent directors, the company will go public with an all-male board.

The Financial Times, Andew Edgecliffe-Johnson, Richard Henderson, Billy Nauman, Eric Platt, Miles Kruppa, August 15th 2019