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The leadership changes at the beleaguered flexible workspace provider comes amid its ongoing efforts to turn around the ailing business.
The circumstances leading to Yazbeck’s departure is not due to any disagreement related to financial or operational matters, the company said in a regulatory filing.
WeWork has been in turmoil ever since its plans to go public in 2019 imploded as investors worried over its hefty losses and began to doubt its business model of taking long-term leases and renting them for the short term.
In August this year, WeWork raised “substantial doubt” about its ability to continue operations in a stunning reversal of fortune for a company that was once privately valued at $47 billion.
Earlier this year, CEO Sandeep Mathrani and CFO Andre Fernandez departed the company, which made its debut on the public market in 2021.
