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SoftBank Seeks to Oust Adam Neumann as WeWork CEO: Report

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Japanese conglomerate SoftBank Group reportedly wants to oust Adam Neumann as the CEO of WeWork, a US firm that provides shared workspaces for startups. WeWork directors were planning an immediate board meeting this week to discuss the details of removing Neumann.

“Certain members of WeWork’s seven-person board are planning to pressure Neumann to step down and instead become WeWork’s non-executive chairman,” TechCrunch reported on Sunday quoting the Wall Street Journal as saying.

The move “would allow him to stay at the company he built into one of the country’s most valuable startups, but inject fresh leadership to pursue an IPO that would bring WeWork the cash it needs to keep up its torrid growth”.

SoftBank and its associated Vision Fund is WeWork’s largest shareholder.

SoftBank CEO Masa Son is apparently in favour of ousting Neumann.

According to CNBC, WeWork views Son’s move against Neumann as an effort to prevent the company from going public.

The board is expected to potentially discuss making Neumann WeWork’s non-executive chairman.

Neither SoftBank nor WeWork made any official comment on the reports.

WeWork, which has officially changed its name to the We Company, lost $1.93 billion (roughly Rs. 13,700 crores) in 2018 over sales of $1.82 billion. The We Company has faced concerns about its corporate governance standards, as well as the sustainability of its business model.



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Google Pixel 6 and Pixel 6 Pro: Everything we know so far

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Google Pixel 6 is hot in the rumor mill with multiple leaks presenting a deeper peek into the upcoming Google smartphone. It is also speculated that the Pixel 6 will be accompanied by the bigger Pixel 6 Pro phone. It is highly likely, the Pixel Fold and even an XL model may debut alongside the Pixel 6 series smartphones. The … Continue reading

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Watch woodpecker destroy hidden camera one obnoxious peck at a time

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You’ve probably seen or heard a woodpecker in action at some point; they’re the small birds that can spend hours driving everyone in the vicinity to madness with incessant taps against trees or wood buildings. What you probably haven’t seen is what it looks like to be the object subjected to the woodpecker’s wrath — until now, that is. A … Continue reading

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MacBook Pro M1X and Mac mini may release Intel from service in 2021

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The release date for a new M1X version of the MacBook Pro from Apple, along with a new Mac mini appear to be headed for a special event. It’s been rumored that the most powerful and updated Mac mini with M1X chip inside will be revealed at an event in the forth quarter of this year, 2021. It’s also tipped … Continue reading

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