WeWork Has Talked With T-Mobile's Legere in Search for New CEO




(Bloomberg) -- WeWork is searching for a new chief executive officer to turn around the troubled co-working company, said people familiar with the matter. The candidates include T-Mobile US Inc. head John Legere, who has spoken with WeWork about the role, said the people, who asked not to be identified because the plans are private.

Legere has deep ties to WeWork majority shareholder SoftBank Group Corp., which took ownership of the company after WeWork's initial public offering broke down. Legere is currently pushing for a contentious sale of his wireless carrier to Sprint Corp., whose majority owner is SoftBank. Sprint's executive chairman, Marcelo Claure, was recently appointed to the same position at WeWork.

But people familiar with the CEO search stressed that WeWork intends to consider many candidates. Although Legere breathed new life into T-Mobile, he has an unpredictable and antagonistic public persona, reflected on his Twitter profile and in conference appearances. He's also another man, in a company so saturated with male management that Claure has promised to increase diversity.

Representatives for SoftBank, T-Mobile and WeWork parent company We Co. declined to comment. The discussions with Legere were reported earlier Monday by the Wall Street Journal.

Adam Neumann, the former WeWork CEO, stepped down in September under pressure from investors over apparent conflicts of interest and mismanagement of the IPO process. Two WeWork executives, Artie Minson and Sebastian Gunningham, took over as co-CEOs. The pair secured multimillion-dollar severance packages with the board last month.

Despite getting rescue financing from SoftBank a couple weeks ago, WeWork needs to quickly rehabilitate the business and fill empty space in its offices. The company is expected to soon dismiss thousands of employees.

Legere and Claure, a SoftBank executive tasked with cleaning up WeWork, have occasionally sparred in the past. Claure, the former CEO of Sprint, was a T-Mobile antagonist before becoming a potential merger partner. In 2016, he called Legere "a con artist" on Twitter. At one point, Legere told Claure to "go back to the kiddie pool." But more recently, the two executives have appeared friendlier as they argue in favor of the Sprint-T-Mobile tie-up. In May, they were spotted jogging together in Washington.

Meanwhile, Neumann is exploring a potential next act with help from the money he got in his exit from WeWork. He considered investing in Barneys New York Inc. during the luxury department store's recent bankruptcy, people with knowledge of the matter said Monday.

(Updates with additional details in the third paragraph.)

--With assistance from Gillian Tan and Scott Moritz.

To contact the reporters on this story: Sarah McBride in San Francisco at smcbride24@bloomberg.net;Ellen Huet in San Francisco at ehuet4@bloomberg.net

To contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMey

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

COMMENTS

More Related News

JPMorgan Fires Credit Trader and Cuts Staff Bonuses for WhatsApp Use
JPMorgan Fires Credit Trader and Cuts Staff Bonuses for WhatsApp Use

(Bloomberg) -- JPMorgan Chase & Co. punished more than a dozen traders for using WhatsApp at work, firing one and cutting bonus payments for the rest.Edward Koo, who had spent almost 20 years at the firm and was put on leave in January, was formally dismissed after JPMorgan concluded he broke company

Saudi Crude Oil Armada Heads for U.S.
Saudi Crude Oil Armada Heads for U.S.

(Bloomberg) -- On the final day of March, the supertanker Newton, loaded with crude from Saudi Arabia, did something rarely seen in the world of oil trading: it abruptly diverted from its original destination, Egypt, setting sail for the U.S. Gulf Coast instead.The Newton is just part of a flood of Saudi

Jack Dorsey pledges $1 billion of his Square stake for COVID-19 relief efforts
Jack Dorsey pledges $1 billion of his Square stake for COVID-19 relief efforts

In a series of tweets, Dorsey said the amount, representing about 28% of his wealth, will be donated to his charity fund, Start Small LLC, which would later focus its attention to universal basic income and girls' health and education. Dorsey, who for years has kept details of his charitable efforts

Boris Johnson
Boris Johnson's Stand-In as U.K. Premier Is a Blunt Former Lawyer
  • World
  • 2020-04-06 23:41:14Z

(Bloomberg) -- The man at the helm of the British government while Boris Johnson is hospitalized, Dominic Raab, is a former foreign office lawyer who trained so hard at karate he had to have a hip replacement in his mid-30s.It's a testament to a kind of determination that can sometimes go to excess.Raab, 46, has been in Parliament since 2010, but he struggled to rise under former Prime Minister David Cameron. Instead, he became a troublemaker, asking awkward questions of the government and then backing Brexit. That upset voters in his southwest London district, and he came close to losing the usually safe Conservative seat in last year's election despite a national surge for the...

Boris Johnson Is Moved to Intensive Care With Covid-19 Worsening
Boris Johnson Is Moved to Intensive Care With Covid-19 Worsening

(Bloomberg) -- Boris Johnson has been taken into the hospital intensive care unit for treatment for coronavirus after his condition worsened, his office said. Foreign Secretary Dominic Raab is now deputizing for the U.K. prime minister. Johnson, 55, was admitted to St Thomas' Hospital in London for tests on Sunday night because his virus symptoms had not cleared up, and he became more seriously ill on Monday afternoon, a government spokesperson said in an email.He remains conscious and was moved to intensive care at about 7 p.m. in case he needs ventilation to help him recover, an official said. The pound fell."The prime minister is in safe hands with that brilliant team at St Thomas's...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy