NIFTY 50

Embattled WeWork CEO Adam Neumann steps down

Updated : September 25, 2019 06:52 AM IST

WeWork co-founder Adam Neumann said Tuesday he is stepping down as CEO of the office sharing startup, calling the increased scrutiny he faced in recent weeks "a significant distraction."
Neumann's announcement comes as the startup faces questions over its governance and profit outlook that have clouded its prospects for going public.
Prior to his announcement, Neumann had faced pressure from board members tied to SoftBank, a major investor, according to people with knowledge of the matter.
Embattled WeWork CEO Adam Neumann steps down

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