WeWork IPO Plan in Doubt as CEO Neumann Exits Under Pressure
- Two senior executives, Gunningham and Minson, named as co-CEOs
- Neumann is non-executive chairman; his wife leaves her role
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WeWork’s plan to go public, in one of the largest stock offerings of the year, hit a wall. Now the company will see whether sacrificing its divisive leader can save a crucial fundraising effort.
Adam Neumann, who co-founded WeWork and turned it into one of the world’s most valuable startups, stepped down as chief executive officer Tuesday under pressure from the board. He took a new role as nonexecutive chairman and forfeit his control over management decisions.