Corporate Law News

WeWork Joins Chipotle, Alibaba in Ex-CEO Staying as Board Chair

Sept. 27, 2019, 9:30 AM

WeWork is joining the ranks of companies like Chipotle Mexican Grill Inc. and Alibaba Group Holding Ltd where an influential leader exits the C-suite but stays in the boardroom.

About 15% of companies in the S&P 1500 index have had their former chief executive officer remain chair of the board between 2010 and 2016, according to an academic study.

Such an arrangement is seen as a way for the CEO to make a graceful exit but it raises questions about who really pulls the strings going forward. Plans for WeWork’s parent company, We Co., to go public could depend in...

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