WeWork's parent known formally as the We Company is going public with an all-male board of directors.
The company was most-recently valued privately at $47 billion although it's unclear if they'll receive the same price tag from the public markets.David 'Dee' Delgado | Bloomberg | Getty ImagesWeWork's parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. Among the seven members, not a single one is female.
In several weeks, WeWork is expected to launch a roadshow where it will meet with investors and seek to drum up support for what's likely going to be a multi-billion-dollar stock sale. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO.WeWork does have several women in management positions. Rebekah Neumann — the co-founder and wife of Adam Newmann, the CEO — serves as chief brand and impact officer.
Adam Neumann serves as chairman of the board. WeWork's board also includes Bruce Dunlevie, a founding partner of Benchmark Capital, as well as Ronald Fisher, vice chairman of SoftBank, two of the company's largest investors. Other members include Lewis Frankfort, Steven Langman, Mark Schwartz and John Zhao.
WeWork has a triple-class share structure and will be a controlled company, making it difficult for an outside investor to wage a proxy contest that would alter the makeup of the board. Amid a boom in initial public offerings in 2019, women have been gaining ground in the C-Suite. In the first half of the year, 13 women CEOs have taken companies public, representing about 15 percent of the total IPOs over that period. That's the highest proportion of any year going back to at least 2014, an
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