Sandeep mathrani biography of williams

WeWork has named its new CEO as real estate industry veteran Sandeep Mathrani on Saturday evening, in a bid to salvage the company following a failed IPO attempt and the ousting of co-founder Adam Neumann.

Mathrani will officially become the new chief executive of the office-sharing firm on February 18, 2020 and will report to Marcelo Claure, who will remain as executive chairman, the company said in a statement.

Mathrani will take over from co-CEOs Sebastian Gunningham and Artie Minson, WeWork said.

Both Gunningham and Minson will remain with the company at least through a transition period to ensure a smooth onboarding process, the company said.

The CEO search was handled by the WeWork board without an external executive search firm, according to people familiar with the matter, adding that a couple of search firms were initially considered.

Mathrani will bring much-needed real estate experience to WeWork. He is the former chief executive of Brookfield Properties' retail group, which is behind the nation's largest malls, and prior to that he was an executive at real estate firms including Vornado Realty Trust.

Brookfield declined to comment on the new position. 

The company announced in early December that Mathrani would depart Brookfield and that his last day of work would be January 31. He will relocate from Miami where he is currently based to New York in the coming weeks.

General Growth Properties’ chief executive officer Sandeep Mathrani isn’t headed for a post in the Trump administration, sources tell WWD.

President-elect Donald Trump interviewed Mathrani last month for the U.S. trade representative job, and possibly one other position within the cabinet, among other candidates. Mathrani is considered a tough-but-fair dealmaker and negotiator, having effectively streamlined the GGP portfolio as well as making some high-profile property acquisitions, such as Manhattan’s Crown Building. He couldn’t be reached and a GGP spokesperson declined comment.

“Sandeep is friendly with Jared Kushner,” Trump’s son-in-law, said the source. “At the end of day he either didn’t want to do it, or the decision was made for him.”

In mid-December, GGP promoted Shobi Khan to president and chief operating officer, fueling speculation of Mathrani leaving GGP. Khan joined GGP in 2011 as chief operating officer to oversee all aspects of asset management and investment activities.

President-elect Trump is considering Jovita Carranza, founder and ceo of the business consulting firm JCR Groupa and former Small Business Administration executive, for U.S. trade representative.

She was a member of Trump’s Hispanic Advisory Council during the campaign. Among others Trump is considering or has considered for the post include Dan DiMicco, former ceo of Nucor Steel; Robert Lighthizer, an attorney specializing in international trade at Skadden, Arps, Slate, Meagher & Flom LLP and a former deputy U.S. trade representative in the Reagan administration; Wayne Berman, of the Blackstone Group and former Commerce official under President George H.W. Bush; and Rep. Charles Boustany (R.,La.)

Following a dramatic end to 2019 that included a delayed IPO, massive employee layoff spree and multiple ousted CEOs, WeWork has officially appointed real estate executive Sandeep Mathrani as its new CEO. Mathrani replaces temporary co-CEOs Artie Minson and Sebastian Gunningham, who stepped up when former CEO Adam Neumann was pressured to relinquish his role in September 2019.

Instead of appointing a tech veteran as CEO, WeWork noticeably went in a different direction. Mathrani’s background is actually in real estate, where, according to Forbes, he was most recently the the CEO of Brookfield Properties’ retail group. This strategic decision will help move the company away from Neumann’s tech startup vision and back towards the company’s business model of renting out office space.

“I am honored to be joining WeWork at this pivotal time in its history,” says Mathrani. “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.”

With the help of its largest investor Softbank, WeWork is currently working on implementing a five-year financial plan that includes a goal to reach profitability by 2021.

Elsewhere in business, Amazon has rejoined the $1 trillion USD club following its Q4 2019 earnings report.

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