Office-space provider WeWork Inc.
WE,
-8.41%
on Thursday said that Anthony Yazbeck would leave his position of president and chief operating officer, a move that will take hold on Friday. WeWork said in a filing that the departure was “not due to any disagreement with respect to operations, strategy, or any accounting matters, financial statements, financial disclosures or related disclosure controls and procedures.” The decision was made on Oct. 13. Under the terms of the departure, Yazbeck will be entitled to a payment of 874,448 pounds, or around $1.1 million, as well as 360,000 pounds “as payment in lieu of the contractual notice period under Mr. Yazbeck’s employment agreement.” Both payments will be made in cash. Shares were up 2.4% after hours.
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