Sandeep Mathrani succeeds Marcelo Claure as WeWork chairman

Co-working firm also appoints Saurabh Jalan, a partner at SoftBank, to its board

National /
Mar.March 29, 2022 07:17 PM

WeWork’s Sandeep Mathrani (WeWork, iStock)

WeWork CEO Sandeep Mathrani will now take an additional role at the co-working company.

The company announced Tuesday that Mathrani will become WeWork’s chairman, a position held by Marcelo Claure until he left his roles at WeWork and Softbank after a reported disagreement over compensation. Claure was said to be seeking $2 billion from the Japanese investment company.

WeWork also appointed Saurabh Jalan, a partner at SoftBank Group, to WeWork’s board, filling a seat that had been held by Claure. Jalan oversees SoftBank’s stakes in WeWork, T-Mobile US, and Deutsche Telekom AG, among other companies.

Mathrani, the former CEO of the retail giant GGP, was appointed CEO of WeWork in February 2020. Mathrani helped take the co-working company public through a special purpose acquisition company, or SPAC, last year.

Claure, who led SoftBank’s Latin American investment fund, was at odds with SoftBank over his responsibilities in addition to his compensation, a person familiar with the matter previously told The Real Deal. The person said the scope of assets that Claure oversaw was shrinking and that had become a point of contention.

Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork’s issues upon providing a golden parachute to the co-working company’s co-founder Adam Neumann to step down as CEO in 2019.

​​Claure had been chief operating officer of the Japanese investment company since 2018 after leading Sprint. He became executive chairman of WeWork in 2019.





    Related Articles

    arrow_forward_ios
    Wendy Silverstein (Credit: Getty Images)
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
    WeWork’s side businesses are fizzling
    WeWork’s side businesses are fizzling
    Sarah Pontius (Credit: Union College)
    Another head rolls at WeWork
    Another head rolls at WeWork
    Adam Neumann with 515 West Avenue (Wikipedia, Realtor, iStock)
    No buzz, but Adam Neumann will take the $293M
    No buzz, but Adam Neumann will take the $293M
    Joel Schreiber and 801 South Broadway (Google Maps)
    WeWork’s first investor in grind on DTLA’s Broadway Trade Center
    WeWork’s first investor in grind on DTLA’s Broadway Trade Center
    Industrious CEO Jamie Hodari and CBRE chief financial and investment officer Emma Giamartino (LinkedIn, CBRE)
    CBRE doubles down on flex-office provider Industrious
    CBRE doubles down on flex-office provider Industrious
    (iStock, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)
    “WeCrashed” offers few heroes but plenty of reflections for real estate
    “WeCrashed” offers few heroes but plenty of reflections for real estate
    Material Bank's founder and CEO Adam Sandow (Material Bank)
    Design supplies marketplace Material Bank worth $1.9B after fundraise
    Design supplies marketplace Material Bank worth $1.9B after fundraise
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...