Reports: Some WeWork directors seek to remove CEO

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — Some members of the WeWork board are unhappy with its leadership and plan to push WeWork CEO Adam Neumann to give up that title, according to several media reports.

The reports say the board members are connected to Japanese firm SoftBank Group, WeWork's biggest investor. The Wall Street Journal and other outlets cited anonymous sources familiar with the matter. We Co. declined to comment and SoftBank did not respond to a request for comment.

Earlier in September WeWork delayed plans for an initial public offering.

Skepticism about WeWork's business model has deepened since the company outlined its finances in paperwork related to the IPO . 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.