We Company CEO starts talking future role
Verdence Capital Advisors' Kevin Kelly discusses WeWork's IPO dropping to $10 billion. Apple stock decreases after Goldman cut its target price to $165.
WeWork co-founder Adam Neumann could soon give up his title as chief executive.
It is among the possible moves the office-sharing board of directors and investors are discussing.
Neumann has reportedly been discussing his future role at the company, as reported by Reuters.
The WeWork co-founder has not yet agreed to step aside as CEO of WeWork parent We Company and at this time there is no guarantee that he will.
We Company postponed its initial public offering last week after potential investors pushed-back over among other things, the amount of control Neumann had over the company.
A potential IPO valuation earlier this month came in ass low as $10 billion, according to Reuters.
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mong possibly remedies would be Neumann becoming chairman, or stay CEO, but have an independent chairman brought in.
WeWork and SoftBank declined to comment to Reuters. Neumann and Benchmark Capital did not immediately respond.