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WeWork has appointed Saurabh Jalan, a SoftBank partner, as a new board member to replace former operating chief Marcelo Claure after he left the company earlier this year.
WeWork CEO Sandeep Mathrani was also named as executive chairman, a position that Claure formerly held.
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Jalan has worked at SoftBank since 2015 and currently oversees the Japanese conglomerate’s largest global investments, which includes its stakes in WeWork.
Mathrani replaced founder and former CEO Adam Neumann after the company’s headline-grabbing failed attempt to go public.
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Last October, the company went public via merging with a special purpose acquisition company. Since then, its shares have fallen by around 40%, but gained 2% this week.
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Source:
Bloomberg
