WeWork to name real estate veteran Sandeep Mathrani its new CEO

WeWork plans to name Sandeep Mathrani as its new chief executive, according to a person familiar with the matter.

Mathrani, who was previously was chief executive of Brookfield Property Partners’ retail group, will replace Artie Minson and Sebastian Gunningham.

The duo has served as co-CEOs of WeWork parent We Co. since Adam Neumann stepped down in September following a failed IPO attempt.

Mathrani will join the company in the coming weeks, with Minson and Gunningham staying on through the transition, the person said.

The Wall Street Journal earlier reported the news of Mathrani’s move.

Marcelo Claure will remain executive chairman of We and Mathrani will report to him, the Journal said.

Claure is an executive at SoftBank Group Corp., which committed billions of dollars to WeWork in a rescue package last fall.