WeWork named Sandeep Mathrani as its new CEO. Mathrani, holding the chief executive position of Brookfield Property Partners’ retail group, will replace Artie Minson and Sebastian Gunningham, according to a press release belonging to WeWork parent We Co.
The duo has served as co-CEOs of WeWork parent We Co. since Adam Neumann stepped down in September following a failed IPO attempt.
Sandeep Mathrani will be joining the company in the coming weeks, with Minson and Gunningham staying on through the transition, the person said.
In a statement, Mr Sandeep Mathrani said WeWork had “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.”
Marcelo Claure will remain as executive chairman of We and Sandeep Mathrani will report to him. Claure is an executive at SoftBank Group Corp, which committed billions of dollars to WeWork in a rescue package last fall.
The appointment of Mr Sandeep Mathrani, who is set to start on Feb. 18, would be an important part of WeWork’s attempts to build a business that could sustain itself in the fast-growing but highly competitive market for flexible office space. Mr Mathrani has been chief executive of Brookfield’s retail division since August 2018, according to his LinkedIn page.