WeWork’s decision to replace co-founder Adam Neumann with two chief executives suggests a desire to establish both credibility and continuity by pairing an accomplished technology veteran with a longtime insider.
On Tuesday, Mr. Neumann, the company’s charismatic co-founder, agreed to step down as CEO under pressure from the board while remaining nonexecutive chairman of We Co., as the company is officially known. In his place will be the tandem of Sebastian Gunningham, We’s vice chairman who joined last year after stints at Amazon.com Inc. and Oracle Corp. , and Artie Minson, the company’s financial chief and a longtime advocate of Mr. Neumann’s.