The executive has been under pressure since WeWork released its pre-IPO S-1 filing amid concerns about its corporate governance and valuation.
WeWork CEO Adam Neumann announced Tuesday he is stepping down after a uproar over governance and valuation just as the company was planning to go public.exec, and CFO Artie Minson, formerly of AOL and Time Warner Cable, will take over as co-CEOs, while Neumann will be nonexecutive chairman, the company said. The new CEOs are expected to remain in those roles permanently, the company said.
"While our business has never been stronger, in recent weeks, the scrutiny directed toward me has become a significant distraction, and I have decided that it is in the best interest of the company to step down as chief executive," Neumann said in a statement. Neumann's future at WeWork, which offers coworking rental space around the world, has been in question as the company has been preparing for an initial public offering. The company
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