Bloc of WeWork board members planning to try to remove Neumann as CEO: WSJ

Business

FILE PHOTO: Adam Neumann, CEO of WeWork, speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York City, NY, U.S. May 15, 2017. REUTERS/Eduardo Munoz -/File Photo

(Reuters) – Some WeWork board members, including officials tied to SoftBank Group Corp (9984.T), are planning to try to push Adam Neumann to step down as chief executive, The Wall Street Journal reported on Sunday, citing people familiar with the matter.

The company’s board is expected to meet as soon as this week and potentially consider a proposal for Neumann to become WeWork’s non-executive chairman, which would allow him to stay at the company but inject new leadership to pursue an IPO, WSJ said.

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WeWork and SoftBank were not immediately available for a comment.

Reporting by Rishika Chatterjee in Bengaluru; Editing by Sonya Hepinstall

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