- The company also appointed Saurabh Jalan, a partner at SoftBank Group, to its board.
WeWork CEO Sandeep Mathrani has been given the additional role of the company’s chairman, it was announced earlier this week. He replaces Marcelo Claure “who resigned from his position at WeWork and Softbank after a reported disagreement over compensation,” reported therealdeal.com. “Claure was said to be seeking $2 billion from the Japanese investment company,” the report added.
Mathrani, the former CEO of the retail giant GGP, was appointed CEO of WeWork in February 2020. He helped take the co-working company public through a special purpose acquisition company, or SPAC, last year.
The India-born-and-raised Mathrani began as the CEO of GGP Inc. in 2011, just as the company was emerging from Chapter 11 bankruptcy. He was CEO until 2018, when it was purchased by Brookfield Property. After the acquisition, Mathrani joined Brookfield as the chief executive of its retail property management arm. Before that, he was an executive with Vornado Realty Trust.
He graduated with a bachelor’s degree in engineering and management science and a master’s in engineering from Stevens Institute of Technology in Hoboken, New Jersey.
WeWork also appointed Saurabh Jalan, a partner at SoftBank Group, to its board, filling a seat that had been held by Claure. He oversees SoftBank’s stakes in WeWork, T-Mobile US, and Deutsche Telekom AG, among other companies.
(Top photo, courtesy WeWork, photo by Tony Favarula/Andrew Collings Photography.)