Embattled WeWork CEO Neumann stepping down: source

WeWork co-founder Adam Neumann has decided to step down as CEO of the office sharing startup, people with knowledge of the matter said Tuesday, citing pressure from board members tied to SoftBank.

Neumann will remain as chairman of the company he started in 2010, and he continues to control a majority of voting shares, the sources said. The company confirmed the report, saying the change is effective immediately.