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WeWork CEO Adam Neumann Resigns Following Pressure From Biggest Investor SoftBank
Adam Neumann in New York (Photo by Noam Galai/Getty Images for TechCrunch)
Co-sharing workspace company WeWork, battling customers' data leak, has bid goodbye to its CEO Adam Neumann after its Japanese investor SoftBank made it clear that he has to go.
WeWork's Board of Directors late Tuesday announced Neumann has decided to step back from his role as CEO, and will continue on as non-executive chairman of the board.
"WeWork's Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice chairman, have been named co-CEOs of the company," WeWork said in a statement.
Neumann's wife and WeWork co-founder Rebekah Neumann is reported to have stepped down from her role as well.
"The eclectic executive has faced increasing pressure to relinquish his throne after another report from the WSJ highlighted his drug use and desires to become Israel's Prime Minister, among other strange behaviours," reports TechCrunch.
SoftBank and its associated Vision Fund is WeWork's largest shareholder. SoftBank CEO Masa Son was apparently in favour of ousting Neumann.
WeWork has also been reported to be leaking customers' particulars through poorly protected Wi-Fi network.
The information leaked includes customers' email addresses, financial records, client databases as well as scans of people's IDs, their bank account credentials, and other sensitive information.
(With inputs from IANS)
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