Equities

Reuters first to report SoftBank's WeWork takeover would lead to Adam Neumann's exit

Reuters first to report SoftBank's WeWork takeover would lead to Adam Neumann's exit

Reuters was first to report that SoftBank’s takeover of WeWork would lead to the latter’s co-founder Adam Neumann stepping down from the board of the U.S. office-space sharing start-up. WeWork abandoned its plans for an IPO after investors questioned its large losses, the sustainability of its business model and the way it was being run by Neumann, who gave up his CEO title but had remained board chairman.