This is everything we know about WeWork\'s new CEO Sandeep Mathrani\, a former real estate executive who has been called a \'corporate turnaround artist\'

FILE PHOTO: A WeWork logo is seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch -/File Photo

Reuters

FILE PHOTO: WeWork offices in San Francisco

In the newest update to the WeWork saga, the company has announced a new CEO, Sandeep Mathrani, who will assume the role on February 18. Mathrani is a real estate veteran and will report to the company's executive chairman, Marcelo Claure.

Mathrani is tasked with building the executive team while dealing with the decisions made under cofounder Adam Neumann. WeWork will continue opening new locations, but at a slower pace, and is also considering dropping other deals that are projected to be unprofitable, The Wall Street Journal reported.

Hiring Mathrani, an experienced real estate executive, might suggest that WeWork is shifting to focus primarily on its real estate identity. WeWork had diversified into housing, WeLive; education, WeGrow; and a luxury gym, Rise by We. After a failed IPO and the departure of Neumann last year, SoftBank took majority control of the company. and Claure, who is SoftBank Group's CEO, also became WeWork's executive chairman.

Here's everything we know about Sandeep Mathrani, the 57-year-old real estate executive most recently CEO at Brookfield Properties.

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Sandeep Mathrani is an Indian American real estate mogul. He was born into a wealthy family in India, Bloomberg reported.

Sandeep Mathrani is an Indian American real estate mogul. He was born into a wealthy family in India, Bloomberg reported.

Source: Bloomberg

He briefly attended the prestigious boys' boarding school Eton in Berkshire, England.

He briefly attended the prestigious boys' boarding school Eton in Berkshire, England.

Source: Bloomberg

He soon transferred to a public high school in Philadelphia, when he was 16 years old.

He soon transferred to a public high school in Philadelphia, when he was 16 years old.

Source: Bloomberg

He attended Stevens Institute of Technology in Hoboken, New Jersey, where he earned a Bachelor of engineering, Master of engineering, and Master of management science.

He attended Stevens Institute of Technology in Hoboken, New Jersey, where he earned a Bachelor of engineering, Master of engineering, and Master of management science.

Source: LinkedIn

Mathrani's first venture into real estate was in 1986, after he graduated with his master's degrees. He said that he bought an apartment in Washington, DC, for $55,000 and sold it about a year later for $75,000, making $20,000 in the process.

Mathrani's first venture into real estate was in 1986, after he graduated with his master's degrees. He said that he bought an apartment in Washington, DC, for $55,000 and sold it about a year later for $75,000, making $20,000 in the process.

Source: CNBC

Mathrani is mostly quiet about his personal life, but he is married to Ayesha Bulchandani-Mathrani, a board member at the Frick Collection.

Mathrani is mostly quiet about his personal life, but he is married to Ayesha Bulchandani-Mathrani, a board member at the Frick Collection.

Source: Frick

In 1994, he started at Forest City Ratner, a New York real estate development company.

In 1994, he started at Forest City Ratner, a New York real estate development company.

Source: Bloomberg

There, Mathrani worked under Bruce Ratner, a former owner of the Brooklyn Nets. Ratner became a mentor to Mathrani, and credited him with building the company's retail business at a dinner in Mathrani's honor in 2012. Mathrani then became executive VP of Forest City Ratner.

There, Mathrani worked under Bruce Ratner, a former owner of the Brooklyn Nets. Ratner became a mentor to Mathrani, and credited him with building the company's retail business at a dinner in Mathrani's honor in 2012. Mathrani then became executive VP of Forest City Ratner.

Source: Women's Wear Daily

In 2002, Mathrani moved to Vornado Realty Trust, where he was Executive VP running the company's retail business, also in New York.

In 2002, Mathrani moved to Vornado Realty Trust, where he was Executive VP running the company's retail business, also in New York.

In 2010, he became CEO of General Growth Properties, one of the largest mall owners in the country.

In 2010, he became CEO of General Growth Properties, one of the largest mall owners in the country.

Source: LinkedIn, Bloomberg

At the time, GGP was coming out of what was the largest real estate bankruptcy in history.

At the time, GGP was coming out of what was the largest real estate bankruptcy in history.

Source: Bloomberg

In 2018, Mathrani led a sale of GGP to Brookfield Property Partners for a reported $15 billion. He became CEO of the company's retail group, and vice chairman of the company.

In 2018, Mathrani led a sale of GGP to Brookfield Property Partners for a reported $15 billion. He became CEO of the company's retail group, and vice chairman of the company.

Source: Bloomberg, LinkedIn

That deal gave him a reputation for turning around failing businesses. Bloomberg called him a "corporate turnaround artist," while Mathrani credits his success to "plenty of luck."

That deal gave him a reputation for turning around failing businesses. Bloomberg called him a "corporate turnaround artist," while Mathrani credits his success to "plenty of luck."

Source: Bloomberg

On February 1, WeWork made news of the new CEO public.

On February 1, WeWork made news of the new CEO public.

Source: Business Insider

Now, Mathrani will first work on hiring more executives, and will.report to WeWork's executive chairman Marcelo Claure, who is also CEO of SoftBank Group.

Now, Mathrani will first work on hiring more executives, and will.report to WeWork's executive chairman Marcelo Claure, who is also CEO of SoftBank Group.

Source: The Wall Street Journal