Estimated reading time: 0 minutes, 36 seconds

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.

Read 1622 times
Rate this item
(0 votes)

Visit other PMG Sites: