Report: WeWork has a new CEO and he’s a real estate — not a tech — exec

If WeWork wanted to cement the impression that it no longer strives to be viewed as a tech company but rather as a real estate giant focused on leasing space to millennials and enterprise customers, it would probably choose a veteran from the real estate world. That’s just what it has done, too, according to…

Report: WeWork has a new CEO and he’s a real estate — not a tech — exec

If WeWork wanted to cement the impression that it no longer strives to be viewed as a tech company but rather as a real estate giant focused on leasing space to millennials and enterprise customers, it would probably choose a veteran from the real estate world.
That’s just what it has done, too, according to a new story from the WSJ that say the company, which was famously forced to pull its initial public offering last fall, has settled on Sandeep Mathrani as its new top banana.
Mathrani, has spent the last 1.5 years as the CEO of Brookfield Properties’ retail group and as a vice chairman of Brookfield Properties. Before joining the Chicago-based company, he spent eight years as the CEO of General Growth Properties. It was one of the largest mall operators in the U.S. until Brookfield acquired it for $9.25 billion in cash in 2018.
Mathrani also spent eight years as an executive vice president with Vornado Realty Trust, a publicly traded real estate company with a market cap of $12.5 billion. (Brookfield is slightly smaller, with a market cap of roughly $8 billion.)
Mathrani will reportedly relocate to New York from Miami, where according to public records, he owns at least one high-rise apartment that he acquired last year.
He’ll be reporting to Marcelo Claure, the SoftBank operating chief who was appointed executive chairman of WeWork in October in order to help salvage what Claure has himself said is at least an $18.5 billion bet on WeWork at
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