Pressure Mounts on WeWork CEO Adam Neumann as Board Weighs Coup

WeWork’s board is convening Monday and could discuss ousting Adam Neumann as chief executive officer, people familiar with the situation said, as the startup seeks to salvage its troubled initial public offering.

With the drama of a palace coup, Neumann has found himself at odds with WeWork’s largest investor, SoftBank Group Corp. Masayoshi Son, founder of the Japanese conglomerate, is among those pushing for Neumann to resign, a person familiar with the situation said, after widespread criticisms of the company’s governance and spending. Some directors are expected to raise the prospect of Neumann becoming non-executive chairman, according to the people familiar with the situation, who asked not to be identified because the discussions are private. The choice is ultimately Neumann’s, as the 40-year-old CEO maintains effective control of management decisions.