Advertisement
Back To Daily Digest
Tags: BUSINESS

WeWork’s New CEO Solidifies Itself As A Real Estate Company

In an effort to shed its once sought-after stance as a technology company, WeWork has enlisted real estate veteran Sandeep Mathrani as its new CEO.

Mathrani has been the CEO of Brookfield Properties’ retail group for the past 1.5 years, as well as vice chairman of Brookfield Properties. Before then, he was the CEO of General Growth Properties, one of the largest mall operators in the U.S., for eight years until Brookfield acquired the company in 2018.

Additionally, Mathrani was executive vice president at real estate company Vornado Realty Trust for eight years.

He will report to former T-Mobile CEO and SoftBank operating chief and Marcelo Claure, who serves as executive chairman of WeWork and is working to keep the company afloat.

The Latest News
Delivered To Your Inbox

“The size of the commitment that SoftBank has made to this company in the past and now is $18.5 billion,” said Claure at an all-hands meeting. “To put the things in context, that is bigger than the GDP of my country where I came from [Bolivia]. That’s a country where there’s 11 million people.”

Having Mathrani on board is a major pivot from WeWork’s cofounder and former CEO Adam Neumann, who was forced to step down after he put the company in a massive financial hole and led it to a failed IPO.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

Latest on Daily Digest

How To Identify If You Are At Risk Of Burning Out

How Workspaces Are Adapting To Tightened Restrictions

Industrious Remains Confident As Demand Increases

The Office Group Anticipates Growth In Demand

Where Can Coworking Go From Here?

How Asia Pacific’s Offices Are Adapting

Google To Try Hybrid Work Arrangements

WeWork Sells Off Majority Stake In Chinese Entity

Why Company HQ May Be A Thing Of The Past

Accor Will Begin Offering Workspace In Its Hotels

Ad
Advertisement

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad
Advertisement
Advertisement
Advertisement
Advertisement