New York | WeWork co-founder Adam Neumann agreed on Wednesday (AEST) to resign as CEO and give up majority voting control, after SoftBank Group and other shareholders turned on him over a plunge in the US office-sharing start-up's estimated valuation.
Neumann's dramatic fall from grace came after WeWork parent We Company postponed its initial public offering last week following pushback from prospective investors in its stock, not just over its widening losses but also over Neumann's unusually firm grip on the company.
