WeWork’s CEO Sandeep Mathrani Departs After Three Years – C-Suite Transitions

WeWork (WE) $0.26

The sudden departure of WeWork’s CEO after just three years at the helm came as a big surprise to me. The fact that the company has not turned around and is now a penny stock was not the surprising part. The writing was already on the wall. I had fully expected Sandeep Mathrani to stay on through a bankruptcy and then lead a leaner WeWork post-bankruptcy.

I wrote the following about the company in our March 2022 Special Situations Newsletter, which I have temporarily moved out of the paywall so everyone can access it here:

Earlier this month I met with a couple of successful serial entrepreneurs at the Salesforce tower in San Francisco. The location was a WeWork office spanning the 36th, 37th and 38th floors of the tallest building in San Francisco and the views of the Bay Bridge were absolutely stunning. It is no wonder that WeWork calls it a “one-of-a-kind” location in its portfolio.

Interestingly the subscription to use this space was modest. Another friend that works predominantly from WeWork locations across the U.S. is also a big fan and prompted me to take a closer look at the company.

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