WeWork CEO stepping aside amid questions about company

NEW YORK — WeWork CEO Adam Neumann is stepping aside amid questions about the company’s finances.The New York-based office sharing company said Neumann will remain on its board as non-executive chairman. WeWork’s Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice chairman, will become joint CEOs of the company.Skepticism about WeWork’s business model has mounted in recent weeks after it delayed a planned initial public offering. The company’s revenue has risen sharply, reaching $1.8 billion in 2018. But its losses have mounted almost as quickly, reaching $1.6 billion last year.WeWork has office space in 111 cities worldwide.The Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *