WeWork bids adieu to CEO Adam Neumann post SoftBank push
New Delhi | Jagran Business Desk: Amid battle over customers data leak, American-based workspace solutions company WeWork has bid goodbye to its CEO, Adam Neumann, after Japanese investor SoftBank clarified that he has to go.
The company’s Board of Directors later Tuesday announced Neumann has decided to step back from his role Chief Executive and will continue as its non-executive chairman.
"WeWork's Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice-chairman, have been named co-CEOs of the company," The company said in a statement.
"While our business has never been stronger, in recent weeks, the scrutiny directed toward me has become a significant distraction, and I have decided that it is in the best interest of the company to step down as chief executive," he added.
As per reports, Neumann’s wife and WeWork’s co-founder Rebekah Neumann has also stepped down from her post.
Adam faced increasing pressure to give up his post after a WSJ report highlighted his use of drugs and desires to become Prime Minister of Israel, among other odd behaviours, reported TechCrunch.
The Japanese investor ‘SoftBank’ and its associated Vision Fund is WeWork’s largest shareholder. Its CEO Masa Son was apparently in favour of ousting in Neumann.
The company has also been reported to be leaking customer details—email address, financial records, client databases, scans of people IDs, bank account details and other sensitive information via poor Wifi network.
As per Jonathan Knusden, Senior Security Strategist at Synopsys Software Integrity Group, users must know that shred Wifi networks do not provide complete confidentiality.
"Organisations should be proactive in defining and implementing a software security strategy. It's surprisingly easy to get started. Without a security initiative in place, your organisation's risk depends on vendors, suppliers, and the vicissitudes of fate," Knudsen said in a statement.
(with IANS inputs)
Posted By: James Kuanal