WeWork Board Members Seek to Remove Adam Neumann as CEO
- SoftBank wants new WeCo.’s CEO after delayed stock offering
- Board expected to propose nonexecutive chairman for Neumann
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Some WeWork directors are planning to push Adam Neumann to step down as chief executive after the startup delayed its much-anticipated initial public offering, according to people familiar with the matter.
Officials tied to SoftBank Group Corp., the company’s largest investor, want Neumann to step down as CEO of We Co., WeWork’s parent company, said the people, who asked not to be identified because discussions are ongoing. SoftBank founder Masayoshi Son is among those favoring Neumann’s removal, CNBC reported Sunday, citing sources it didn’t identify.