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WeWork Named Sandeep Mathrani As the New CEO

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Co-sharing workspace company WeWork has named Indian-American real estate veteran Sandeep Mathrani as the new CEO of the company.

The new role for Mathrani, who most recently served as CEO of Brookfield Properties’ retail group, will be effective from February 18. He will also be a member of the company’s Board of Directors, WeWork said late on Saturday.

Mathrani will report to Marcelo Claure, who will remain, Executive Chairman, WeWork said, adding that Mathrani’s deep real estate experience and skills are complementary with those of Claure.

Mathrani’s appointment comes at a crucial time when WeWork is trying to stabilise its business following its failed attempt to go public last year and the departure of its Co-founder and former CEO Adam Neumann.

“I am honored to be joining WeWork at this pivotal time in its history. The company has redefined how people and companies approach work with an innovative platform, exceptionally talented team and significant potential if we stick to our shared values and maintain our members-first focus,” Mathrani said in a statement.

“I am grateful for the confidence Marcelo and the Board have placed in me and look forward to partnering with Marcelo and the very talented employees at WeWork.”

Following the setback which led to dramatic fall in its valuation, Japan-based technology investor SoftBank took 80 per cent ownership of the company and infused into it $5 billion in new financing.

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