WeWork co-founder Miguel McKelvey will leave the company at the end of June, a spokesman for the troubled office-sharing start-up said on Friday.
McKelvey’s exit comes as WeWork, majority owned by SoftBank Group Corp , was hit hard by the COVID-19 pandemic which affected its core business and weighed heavily on its occupancy rates.
Since taking over as WeWork’s chairman, SoftBank executive Marcelo Claure has overhauled the office-sharing startup’s top management and brought in several executives including CEO Sandeep Mathrani, as part of his broader strategy to turn around WeWork. WeWork has gone through a tumultuous period since abandoning its initial public offering in September and was forced to push out co-founder Adam Neumann last year, after SoftBank and other shareholders turned on him over his management style, his numerous conflicts of interest and his handling of the IPO.
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