The former chief executive of Brookfield Properties’ retail group previously led General Growth Properties, America’s second-largest mall owner, out of the country’s biggest real estate bankruptcy at the time. (Bloomberg)
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The former chief executive of Brookfield Properties’ retail group previously led General Growth Properties, America’s second-largest mall owner, out of the country’s biggest real estate bankruptcy at the time. (Bloomberg)
Talking point: Mathrani has his work cut out for him in his new role. Over the past five months, The We Company, WeWork’s parent, pushed out founder and CEO Adam Neumann, pulled its IPO, struck a bailout deal with lead investor SoftBank, shed some 80 per cent of its valuation and said it was laying off some 2,400 employees. Its competitors are trying to convince investors that while they could be their next WeWork, they are definitely not the “Next WeWork.” Bringing in a relatively unknown but respected CEO with profitable success and investor confidence helped Uber in 2017, when the company brought in former Expedia executive Dara Khosrowshahi—a success WeWork will be looking to mimic with Mathrani’s appointment.
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