Adam Neumann won't work as WeWork's chief executive much longer.
The WeWork co-founder and CEO is set to step down amid mounting pressure from board members and investors, The New York Times reports. A "lengthy board call" on which this decision was made reportedly took place Tuesday. WeWork, which offers shared office space for rent, last year lost $1.6 billion. Its initial public offering was recently delayed by months, and the Times notes the company is "unlikely to turn a profit in the foreseeable future."
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