WeWork Names NRI Sandeep Mathrani as it new CEONRI Top Stories

February 03, 2020 19:01
WeWork Names NRI Sandeep Mathrani as it new CEO

(Image source from: indiatvnews.com)

The real estate industry veteran Sandeep Mathrani has been named as the new chief executive officer of the softbank- backed sharing firm WeWork.

Mr Sandeep Mathrani is said to join the as the chief executive officer to the company from the 18th of February and will be reporting to Marcelo Claure, who is said to be remaining as the executive chairman of the company, as said by the company in a statement.

WeWork has said that Sandeep Mathrani will be succeeding Sebastian Gunningham and Artie Minson who are the co-CEOs of Mr Mathrani.

The company has added saying that Mr Gunningham and Mr Minson will be remaining in the company for atleast through a transition period in order to ensure a smooth onboarding process.

No external executive search firm has been involved in the search for the CEO and was handled by the WeWork. He is said to be the former chief executive of Brookfield Properties retail group prior to which he was an executive at real estate firsms that include Vornado Realty Trust.

The search for a new Chief Executive Officer has been begun by WeWork in November after the departure of the co-founder Adam Neumann.

The IPO of the WeWork has been shelved last year with the company being recorded with a steep plunge in the valuation which decreased from $47 billion to less than $8 billion.

The Wall Street Journal has reported the news about Mr Sandeep Mathrani earlier on Saturday

By Shrithika Kushangi

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NRI  WeWork