WeWork CEO Adam Neumann to reportedly step down amid board pressure

(Image credit: Theo Wargo/Getty Images)

published 24 September 2019

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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This comes just two days after the Journal reported that a bloc of WeWork directors was planning to push for Neumann's ouster as CEO, and a week after the Journal published an article packed with strange details about Neumann's drug use and supposed interest in becoming "president of the world," a plan that just hit a major snag. Presumably, WeWork executives will see Neumann out with tequila shots and a performance of "It's Tricky."

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Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.

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