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WeWork CEO Resigns, IPO Postponed Amid Data Security Issues

WeWork co-founder Adam Neumann has resigned as CEO, and the workspace-sharing company has delayed a planned public offering in the wake of ongoing revelations about its information security practices. So reports CNET.

Neumann’s exit was announced on September 24, and the new co-CEOs—former chief financial officer Artise Minson and former vice chairman Sebstian Gunningham—said they’re now “evaluating the optimal timing for an IPO.”

A week earlier, WeWork drew criticism for not securing its wi-fi networks, a vulnerability that the company had known about since at least May 2015. According to CNET, WeWork wi-fi users could see the devices and financial records of other companies in their building’s network.

Click here to read the full article from CNET.

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