Oliver Zipse, Mark McLaughlin, WeWork IPO, and Adam Neumann (15 August, 2019)

German luxury carmaker BMW’s former head of production, Oliver Zipse, will take over from chief executive Harald Krüger. Oliver Zipse will assume the role of Chairman of the Board of Management of BMW AG effective on 16 August 2019.

Zipse spent his entire professional life at BMW AG:

1991, joined BMW AG as Trainee in Development and Production
1992 – 1994, Project Engineer for Technology Innovation
1994 – 2006, Various Leading Functions in Development, Production and Production Planning in Munich and South Africa
2007 – 2008, Managing Director Plant Oxford, UK
2009 – 2012, Senior Vice President of Technical Planning
2012 – 2015, Senior Vice President Corporate Planning and Product Strategy
since 2015, Member of the Board of Management of BMW AG, Production
As of 16 August 2019, Chairman of the Board of Management of BMW AG

Qualcomm Incorporated (NASDAQ: QCOM) has appointed Mark D. McLaughlin, the former chief executive of Palo Alto Networks, as Chairman of the Board of Directors, effective August 13, 2019, replacing Jeff Henderson. McLaughlin joined Silicon Valley-based Palo Alto Networks (NYSE: PANW) as president and CEO in 2011. Mr. Henderson, the former CFO of Cardinal Health, will remain on the Board and continue to chair its Audit Committee. Mr. McLaughlin holds a B.S. degree from the U.S. Military Academy at West Point and a J.D. from Seattle University School of Law.

WeWork IPO and Adam Neumann: A buzzy and hugely lossmaking unicorn, the office-space provider WeWork, the We Company, wants a $3 billion – $4 billion IPO as soon as next month. Eric Platt at the Financial Times notes that the firm—which lost $689.7 million in the first half of this year, on $1.54 billion in revenues — is rushing to float in the face of stormier markets and a gloomier global economy, and that its IPO “will be a big test of public investor appetite.”

Its $47 billion valuation is being heavily questioned, the founder and CEO of Adam Neumann and its current investors appear to think the company has a chance at reaching a market cap of $90 billion.

Thanks,

Dr. Amarendra Bhushan Dhiraj
amar@ceoworld.biz
@ceoworld

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