WeWork CEO comes under pressure – four experts weigh in (via TradingNation)
. WeWork's IPO had already come under fire on concerns over heavy losses and Neumann's concentrated voting powers.Kamran Ansari, venture partner at Greycroft, says this situation is different from when"You can't push [Neumann] out. You have to put him in the chairman seat, give him the president title, bring in someone else. … It's a different situation because of the control that he has over the voting stock.
Early investors "allowed it to happen, and they are now responsible for it. That's the whole issue. The issue isn't what he's done with it. The fact is he had it to begin with, but there are there a lot of companies that have it, and a lot of these potential issues will come up there, too. ... I think this hopefully is the catalyst that gets people to say, 'Enough,' because you see how it played out to its irrational end. And that's what we're seeing.
"He's the right person right now to launch a company that's going to be transformative. He does need, as a lot of people did, whether they were founding Google or Apple or Facebook, sort of what they used to call adult supervision on Wall Street, and he's probably not the person to be the long-term CEO.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank's Masa Son is in favor of ousting WeWork CEO Adam NeumannThe news follows a tumultuous week in which WeWork postponed its IPO roadshow and new revelations were published about Neumann's behavior.
Read more »
WSJ News Exclusive | Some WeWork Board Members Seek to Remove Adam Neumann as CEOA bloc of WeWork directors is planning to push Adam Neumann to step down as chief executive after a tumultuous week in which the startup delayed its IPO.
Read more »
Some WeWork directors considering removal of Adam Neumann as CEO: WSJSome WeWork board members, including officials tied to SoftBank Group Corp |9984...
Read more »
WeWork board members are talking about ousting CEO Adam Neumann amid IPO turmoilWeWork CEO Adam Neumann founded the company and built it to what it is today. But his leadership has also come under fierce criticism.
Read more »
Some WeWork board members reportedly looking to remove Adam Neumann as CEOSome WeWork board members want to remove Adam Neumann as chief executive of the company, the Wall Street Journal and other outlets report, citing people involved in the talks
Read more »
WeWork board members seek to remove Adam Neumann as CEOSome WeWork directors are planning to push Adam Neumann to step down as chief executive after the start-up delayed its much-anticipated initial public offering, according to people familiar with the matter.
Read more »