WeWork replaces founder Adam Neumann with two co-CEOs

WeWork today announced the resignation of Adam Neumann, the co-founder and principal shareholder of the co-working space provider, from the role as CEO.
WeWork IPOWeWork also announced the appointment of Artie Minson and Sebastian Gunningham as co-CEOs named to replace him. They are veterans of the media and tech industries but have never held the top position at prior employers, CNBC reported.

They’re tasked with righting a 15,000-person company that recorded more than $800 million in revenue in the latest quarter and is generating over $4 billion in annualized sales, but lost over $600 million in the June quarter.

WeWork said in a statement last week that it still planned to go public in 2019.

Artie Minson

Artie Minson, 48, joined WeWork as president and COO in June 2015, responsible for scaling WeWork’s operations and expanding the presence globally.

Artie Minson, a graduate of Georgetown University and Columbia Business School, worked as an auditor for Ernst & Young after school before jumping over to Time Warner in 1998 as the internet bubble was blowing up. He took both AOL and Time Warner Cable public, and worked for Ted Leonsis and Tim Armstrong.

In 2000, he joined Rainbow Media Holdings, the entertainment company that became AMC Networks, where he eventually ran finance.

Four years later, he was hired as senior vice president of finance at AOL’s broadband unit and became CFO in 2009, managing the spinoff from Time Warner. In 2013, he was named executive vice president of Time Warner Cable, and helped sell the business to Charter Communications.

Sebastian Gunningham

Sebastian Gunningham, 57, joined WeWork as vice chairman last year. Sebastian Gunningham spent over a decade at Amazon, ultimately running the company’s marketplace business. Before Amazon, Sebastian Gunningham was a senior executive at Apple and Oracle, working with CEOs Steve Jobs and Larry Ellison.

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