WeWork CEO Adam Neumann Stepping Down Amid IPO Troubles

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WeWork Presents Second Annual Creator Global Finals At Microsoft Theater
Adam Neumann speaks onstage during WeWork Presents Second Annual Creator Global Finals at Microsoft Theater on January 9, 2019 in Los Angeles, California. Neumann, the charismatic entrepreneur who led WeWork to become one of the world’s most valuable startups, is stepping down as chief executive officer, said a person briefed on the decision.Michael Kovac—Getty Images for WeWork
By Michelle F. Davis / Bloomberg

(Bloomberg) –– Adam Neumann, the charismatic entrepreneur who led WeWork to become one of the world’s most valuable startups, is stepping down as chief executive officer, said a person briefed on the decision, after a plan to take the company public hit a wall.

Members of WeWork’s board have been pressuring Neumann in recent days to step aside, taking a new role as non-executive chairman and help salvage an IPO.

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