An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
WeWork Announces New SoftBank Appointment to Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
WeWork Inc. (NYSE: WE) announced the appointment of Alex Clavel, CEO of SoftBank Group International, to its Board of Directors, effective August 9, 2022. Clavel succeeds Michel Combes, who served since October 2020. Clavel's extensive experience in managing global investments, including WeWork, positions him to influence the company's strategy as it aims for revenue growth and profitability. CEO Sandeep Mathrani expressed confidence in Clavel's capabilities. This leadership transition may impact WeWork's operational direction and investor sentiment.
Positive
Appointment of Alex Clavel is expected to bring fresh perspectives and insights.
Clavel's background in managing global investments may enhance strategic decision-making.
Potential for strengthened leadership during WeWork's pursuit of profitability.
Negative
Transition from a long-serving board member might create continuity concerns.
Experience gap may arise with the departure of Michel Combes.
NEW YORK--(BUSINESS WIRE)--
WeWork Inc. (NYSE: WE), the leading global flexible space provider, today announced that Alex Clavel, Chief Executive Officer of SoftBank Group International (“SBGI”), has joined WeWork’s Board of Directors, effective August 9, 2022. Mr. Clavel succeeds Michel Combes, the former Chief Executive Officer of SBGI, who had served on WeWork’s Board since October 2020.
Mr. Clavel has extensive experience with both private and public companies, having been responsible for managing SoftBank's international platform of investments, including WeWork, T-Mobile, Deutsche Telekom and OneWeb. He currently serves as a director on numerous internal SoftBank and external portfolio company boards, including Arm China, Boston Dynamics, InMobi, SB Energy, Goggo and Levere Holdings Corp. Before joining SoftBank in Tokyo in 2015, Mr. Clavel spent 19 years at Morgan Stanley in investment banking, where he focused on technology, media and telecom M&A and spent time in New York, Hong Kong, Shanghai and Tokyo. He earned a bachelor’s degree from Princeton University and speaks French, Mandarin Chinese and Japanese. He serves as a director of Prep for Prep and is a member of Princeton’s National Annual Giving Committee.
“Alex brings a firm understanding of WeWork’s core business, and how our diversified suite of products - from All Access to WeWork Workplace - strengthen our long-term value proposition as the partner of choice. With deep knowledge and expertise from working with numerous companies at different stages of growth, I know Alex will bring a valuable perspective as we continue to execute on our goals and meet demand for greater flexibility,” said Sandeep Mathrani, WeWork’s CEO and Chairman. “I also want to thank Michel Combes for his leadership and friendship over the past few years, and wish him the best going forward.”
Mr. Clavel said, “WeWork is an extraordinary company that has undergone an incredible transformation with Sandeep at the helm. I am excited to join its Board at this important juncture as the company executes against its goals of growing revenue and continuing the march towards profitability."
About WeWork
WeWork Inc. (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become the leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.
