WeWork appoints Sandeep Mathrani as its CEO

BENGALURU: Softbank-backed office sharing firm WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive on Saturday.

Mathrani will join the company as the CEO from Feb. 18, 2020 and will report to Marcelo Claure, who will remain as executive chairman, the company said in a statement.

Mathrani succeeds co-CEOs Sebastian Gunningham and Artie Minson, WeWork said.

Both Gunningham and Minson will remain with the company at least through a transition period to ensure a smooth onboarding process, the company said.

The CEO search was handled by the WeWork board without an external executive search firm, according to people familiar with the matter, adding that a couple of search firms were initially considered.

Mathrani will bring much-needed real estate experience to WeWork. He is the former chief executive of Brookfield Properties' retail group, and prior to that he was an executive at real estate firms including Vornado Realty Trust.

Brookfield declined to comment. The company announced in early December that Mathrani would depart Brookfield and that his last day of work would be Jan. 31.

WeWork began its search for a new CEO in November following the departure of co-founder Adam Neumann, who drew criticism for his erratic management style.

WeWork's IPO was shelved last year and the company recorded a steep plunge in valuation, to less than $8 billion from $47 billion.

The news about Mathrani was reported earlier on Saturday by The Wall Street Journal.


Source: https://realty.economictimes.indiatimes.com/news/commercial/wework-appoints-sandeep-mathrani-as-its-ceo/73865820

February 02, 2020

0 views
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.