WeWork Companies Inc. chief executive Adam Neumann is facing pressure by board members to step down after the coworking company delayed its much-anticipated IPO, The Wall Street Journal reported, citing people familiar with the matter.
The board members, which include officials tied to SoftBank Group Corp. — WeWork's largest investor — want Neumann to step down as CEO of The We Co., WeWork's parent company, according to the Journal.
The board could meet to consider a proposal for Neumann to stay on as We's nonexecutive chairman as early as the week commencing Sept. 23, some of the people told the publication.
