WeWork IPO: Company Discusses Future In All-Hands Meeting, Loses Another Executive

Following the delay Monday of its IPO, shared workspace company WeWork gathered its employees together for an all-hands meeting on Tuesday where the future of the company was discussed. The exact details of what was discussed and what was decided are not known at this time. However, it has come out that the company believes it needs to fine-tune its story before meeting with investors again, according to sources speaking with CNBC.

Amid concern from investors over the company’s leadership and declining valuation, WeWork parent company, We Co., postponed its IPO, potentially until October. WeWork itself said on Monday that they believe the offering will go through by the end of the year.

Meanwhile, another high-level executive is on their way out at the company as it struggles to maintain stability at a pivotal juncture. Sarah Pontius, WeWork’s global head of real estate partnerships, has, according to The Real Deal, reached an agreement to depart from the company.

One source to the outlet that Pontius would remain under contract for the rest of the year, but did not elaborate on what she would be doing.

Pontius’ departure follows the recent departures of numerous important figures from the company. These include chief communications officer Jennifer Skyler in September, vice president of communications Dominic McMullan in July, global head of business and finance Ted Stedem in August, and chief brand officer Julie Rice also in August.