WeWork Chairman Marcelo Claure is presenting a five-year strategic plan to the office company’s board on November 19.
It will include a new governance model focused on “accountability and fairness”; a new organizational and compensation plan; and financial restructuring that eliminates the need to raise more capital.
Business Insider obtained a full copy of the memo.
Read all of Business Insider’s WeWork coverage here.
WeWork chairman Marcelo Claure is presenting a five-year strategic plan to the office company’s board of directors on November 19, he told employees in a memo on Thursday.
Claure said the plan will include new compensation plan, and a financial restructuring that eliminates the need to raise more capital. A WeWork representative declined to comment.
Here’s the full memo:
I hope you all had a good week. Before I dig into this week’s update, I want to share a personal story with you.
I ran the New York City Marathon last Sunday. I’m a big guy, and it may not have been the prettiest sight, but I finished — and while challenging, it was extremely rewarding. I got to see all five boroughs of New York from the ground up, running alongside people from all around the world. And as I ran, I realized that we serve a group of companies and individuals as diverse as New York itself — from startups in Brooklyn, to enterprises in Manhattan, to day-one entrepreneurs in Queens. Over 26 miles, I got an incredibly humbling sense of the sheer scale of humanity we serve every single day.
In moments of rapid change, it’s not always easy to pause and give each other credit, but these are actually the times when it’s most important to do just that. Our members, in locations from New York to Madrid and beyond, are changing the world with their products and services — and they’ve put their trust in this team to help them do it. We make their work possible. This month we already opened more than 30 new locations in cities around the world — Austin, Bengaluru, Berlin, Birmingham, Bogotá, Boston, Chicago, Houston, Kobe, Kuala Lumpur, Lima, Los Angeles, Manila, Moscow, New York, Noida, Osaka, Paris, Philadelphia, Perth, Phoenix, Sacramento, San Francisco, São Paulo, Seattle, St. Louis, Tel Aviv, Toronto and Washington DC. They, too, will soon fill up with companies — start-ups working alongside established organizations that are relying on …read more
Source:: Business Insider