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New York & Tri-State  + New York  + Office  |  May 17, 2023
Emily Fu
By: Emily Fu

WeWork CEO Sandeep Mathrani to Step Down 

WeWork announced that Sandeep Mathrani will step down as Chairman, CEO, and director, with David Tolley appointed interim CEO, effective May 26th.  

Mathrani was appointed chairman in March 2022 after Marcelo Claure. In the wake of a failed IPO and growing investor worries regarding corporate governance practices, he led the company through a transformative period. The firm eventually went public in 2021 during his tenure. “It has been a privilege to lead WeWork during a notable transformation,” said Mathrani. “Over the last three years, we have restored the brand, grown revenue, right-sized the company, restructured our debt, and developed new product lines.” 

Tolley brings over 25 years of experience, including serving as CFO at Intelsat S.A. and OneWeb. WeWork’s board appointed Daniel Hurwitz as chairman to lead the search for a permanent CEO. Mathrani will join Sycamore Partners as a director to lead its real estate activity. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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