WeWork's Empty Chair Sparks Speculation Of Founder Adam Neumann's Return: Bloomberg

WeWork Inc WE is yet to fill the Chair position since Marcelo Claure's exit in January, Bloomberg reports.
Claure, SoftBank Group Corp's SFTBY SFTBF former COO, had held that position since the Japanese conglomerate rescued WeWork from near-insolvency in 2019.
Claure resigned in January from SoftBank, the biggest investor in WeWork.
Adam Neumann can legally return to the board as an observer by February 26 after a year-long ban from the boardroom.
Neumann, who co-founded WeWork in 2010, lost his voting power on the WeWork board in 2019 after a botched-up initial public offering. Neumann subsequently lost his position as the CEO.
Neumann can request a comeback subject to SoftBank's approval.
A WeWork board committee will present recommendations for a new Chair at the next board meeting on March 29 and will likely suggest an existing board member.
Price Action: WE shares traded lower by 0.96% at $6.17 on the last check Friday.