WeWork’s Co-Founder Exits the Company
Miguel McKelvey, the Chief Culture Officer of embattled co-working company WeWork, will step down from his position at the end of June. McKelvey, a former architect, founded WeWork alongside Adam Neumann in 2010.
His role will not be replaced and will instead be split between the company’s executive team.
In an internal email obtained by CNN Business, McKelvey said, “While it’s hard to leave, and I know there is a lot more work to be done, I could only make this decision knowing this company and our people are in good hands.”
WeWork’s CEO Sandeep Mathrani said, "Miguel’s dedication to establishing a community that fosters connection and compassion has helped build a business that recognizes and celebrates inclusivity, authenticity, learning, and growth. I am confident Miguel will bring the same entrepreneurial spirit to his future endeavors and we wish him all the best in what lies ahead. He has left an indelible mark on this company and he will be missed."
McKelvey leaves WeWork as the company is battling through a turbulent period. Last week, a new class-action lawsuit was filed against WeWork over its disastrous 2019 IPO attempt.
Additionally, WeWork has been hard hit by the coronavirus, as the company has admitted it would have to withhold April and May rent payments to some landlords. Tenants like IBM, which ended its WeWork office lease in New York City, are also exploring new options as many employees now work remotely.
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