SoftBank Group Corp. is tapping COO Marcelo Claure to help turn around WeWork Cos. Inc., the U.S. coworking giant which recently saw its CEO step down amid mounting pressure following the delayed IPO of its parent company The We Co., Bloomberg News reported, citing people familiar with the matter.
Claure, who is also the former chief executive of Sprint Corp., was reportedly asked by SoftBank Chairman and CEO Masayoshi Son to take a "more hands-on role" at WeWork. SoftBank is the biggest outside investor in WeWork, which appointed Artie Minson, formerly co-president and CFO, and Sebastian Gunningham, formerly vice chairman, as its new co-CEOs following Adam Neumann's resignation.
Claure will be tasked to help WeWork's new leadership identify revenue and cost-saving opportunities, sources told the news outlet, adding that a decision on his exact role has not been made yet.
The development comes two weeks after WeWork's parent postponed its initial public offering due to investor concerns about the company's valuation and corporate governance.
