WeWork CEO Could Step Down as Marijuana Use May Be a Focal Point

WeWork is an office space and workspace solutions company whose board met this week. Prior to the board meeting, Market Insider released an article concerning the company’s intent to remove Adam Neuman, the co-founder and CEO of WeWork.

According to Market Insider, the Wall Street Journal “recounted claims from anonymous sources that Neumann smoked marijuana on a private flight from New York to Israel.” Further, the owner of the jet recalled that before Neumann reboarded the flight, the crew discovered the substance in a cereal box.

Neumann invested in an Israeli medical marijuana company last year, according to Business Insider. The company’s chairman is the country’s former prime minister Ehud Barak.

Ultimately, Neumann stepped down from WeWork, according to the Wall Street Journal. The article indicates that he will remain a nonexecutive chairman. The article also indicates that,

“Neumann’s position became tenuous after [WeWork] postponed a planned IPO earlier this month amid concerns from prospective investors about its governance and ballooning losses.” Further, Neumann’s “eccentric behavior,” which includes a party-heavy lifestyle and marijuana use on an airplane was “undercutting his position.”