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WeWork CEO steps down

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WeWork CEO Adam Neumann stepped down from the position at the co-working giant amid scrutiny into his leadership as the company prepared for its initial public offering.

Neumann, the company's largest individual shareholder, will remain nonexecutive chairman.

"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 said in a statement.

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