WeWork wants to strip away power held by Adam and Rebekah Neumann, the husband and wife cofounders, to get its IPO back on track

NEW YORK, NY - APRIL 24: Adam Neumann and Rebekah Neumann attend the 2018 Time 100 Gala at Frederick P. Rose Hall, Jazz at Lincoln Center on April 24, 2018 in New York City.

WeWork is considering curtailing the power of CEO Adam Neumann and his wife, Rebekah Neumann, in an effort to get its initial public offering back on track, The Financial Times reported Thursday.

Neumann dominates the company, thanks in part to holding special stock that gives him 20 votes per share. The company's investors, advisors, and executives are deliberating whether to reduce his voting power, among other possible corporate governance reforms, according to The Financial Times.Advertisement

Company representatives did not immediately respond to an email from Business Insider seeking comment.

WeWork has been struggling to line up potential investors for its planned public offering. Neumann's control over the company and a series of transactions involving him or his relatives have raised eyebrows. Investors and analysts have also raised concerns about the company valuation and financial stability.
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