Profile of new WeWork CEO Sandeep Mathrani - Business Insider

"We hired a leader — a great leader who's done one of the most amazing turnarounds in the retail industry, which is GGP," WeWork chairman Marcelo Claure said in a CNBC interview on Monday. "He took it from bankruptcy and sold it for tens of billions of dollars to Brookfield. That was a transformational leader, and the company has a great culture. They had to do a lot of innovation in order to transform that retail business. It is a very similar play here.

Metz and Nolan's plan was to split up GGP, keeping the better malls and spinning out non-core assets, both before and after Mathrani joined. Those assets became companies like Howard Hughes, a publicly traded developer of master-planned communities. He brought a wide network to GGP and made even more contacts in all corners of real estate and investing during his nine-year tenure. On a GGP roadshow, he met billionaire casino magnate Sheldon Adelson; one executive recalls Mathrani speaking with billionaire mall owner David Simon on the phone "multiple times a week."

But WeWork wasn't Mathrani's planned first move post-Brookfield; instead, he had set up a consulting firm. One of his clients was Starwood Capital Group's retail arm, which owns Class B malls, three sources said. The private-equity firm had emailed investors in the first week of January to announce the retail expert's appointment as a consultant.Instead of Starwood, Mathrani is heading to an even bigger real estate turnaround play: WeWork.

"I remember thinking two weeks in, 'I'm 50 years old and I'm still getting yelled at," said one executive who worked with him for years at GGP. "He's not personally mad at you, he's just emoting." That source said he expects Mathrani to do well shoring up WeWork's revenues and negotiating liabilities with landlords. As of June 30, the company had $47 billion in long-term lease obligations. And the source said Mathrani will not, like Neumann,

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Brandless is shutting down and refusing new orders - Business Insider'I'm proud of what we created at Brandless and the hard work and dedication of everyone on the team,' Brandless CEO Evan Price told Business Insider. I'm not at all surprised. I was a regular customer, buying a sizable amount of mostly grocery items every month. All of a sudden they began phasing out most of the products I was interested in. I completely stopped shopping there in October.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Business InsiderA car dealer is selling Al Capone's bulletproof 1928 Cadillac sedan for $1 million — see inside I'll take 10. Tupac’s BMW is for sale for $1.75mm with bullet holes included
Source: BusinessInsider - 🏆 729. / 51 Read more »

Amazon said Oracle's CEO influenced Trump to reject its JEDI bid - Business InsiderAmazon claims Trump was motivated by his dislike of Jeff Bezos and influenced by Oracle CEO Safra Catz to 'screw' the company out of the $10 billion JEDI contract techinsider So
Source: BusinessInsider - 🏆 729. / 51 Read more »

How long it takes CEOs to make what typical employees do in a year - Business InsiderSeveral CEOs, including Disney's Bob Iger and Starbucks' Kevin Johnson, took less than a day to make a typical employee's annual salary. Envy? Did you do the math for how many more education hours the ceo has over the high school drop out minimum wage idiots underneath them?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Nike CEO describes how company responds to social issues, controversy - Business InsiderNike's new CEO John Donahoe explained the process behind brand-led campaigns like Nike's infamous Colin Kaepernick ad. Has racial inequality improved since the Kaepernick partnership? Take all the stands you want. I will stand too....just not in nike shoes. NikeBoycott Bagus statementnya. Apa yg bukan isu utama mereka ya gak ada hubungannya. Siiip.
Source: BusinessInsider - 🏆 729. / 51 Read more »