WeWork in talks to hire T-Mobile's John Legere

  • by Johnnie Parks
  • in Money
  • — Nov 12, 2019
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Naturally, it's entirely possible that WeWork will end up with a different individual heading the company, but since John Legere's name has been mentioned, we'll keep you posted as the company's search for a CEO continues.

WeWork has started a search for a new chief executive following the departure of co-founder Adam Neumann, people familiar with the matter said on Monday, as the US office-sharing start-up seeks to reverse its widening losses.

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Following Mr Neumann's departure, WeWork promoted executives Artie Minson and Sebastian Gunningham to share the chief executive role.

WeWork, seeking a new chief executive to lead the co-working company's overhaul, is in talks with John Legere of T-Mobile, according to two people briefed on the discussions. WeWork also declined to comment. SoftBank is also a majority owner in USA wireless carrier Sprint, which is now being bought by T-Mobile. Legere took in $66.5 million previous year, eligible for up to $109 million if T-Mobile hit specific performance targets.

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The merger between the third- and fourth-largest USA wireless companies cleared a hurdle in July when the Justice Department approved the acquisition.

Neumann has reportedly agreed a $1.7 billion golden parachute as part of SoftBank's bailout of WeWork too. The unconventional CEO, who has taken to Twitter to criticize rivals as "Dumb and Dumber", has built the UnCarrier brand, adding millions of subscribers every quarter, and has shaken up the wireless industry by eliminating wireless contracts and other offerings, such as unlimited data plans. At the time of Neumann's ouster, it was valued at just $7 billion, and its majority owner, SoftBank, has since written it down to below $5 billion.

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