Embattled office-sharing firm WeWork has hired a new CEO to turn the page on Adam Neumann, its co-founder and former leader whose antics have finally tired investors.
Sandeep Mathrani, a real estate industry veteran, will officially take over on February 18, WeWork said in a statement published Saturday.
He will be charged with the difficult task of relaunching WeWork, which had been one of America's most celebrated startups that put a mammoth footprint in the commercial real estate of major cities around the globe.
Its collapse led to Neumann's departure and cost the main shareholder, Japanese billionaire Masayoshi Son, billions of dollars.
Mathrani will replace Artie Minson and Sebastian Gunningham, who have been acting as interim CEOs since Neumann's forced departure in September following WeWork's failed IPO, which fell from $47 billion to less than $10 billion.
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