WeWork Makes Tolley Permanent CEO to Lead Turnaround Effort
- Tolley replaces Sandeep Mathrani who stepped down in May
- WeWork has struggled since the pandemic shifted work habits
A WeWork office in New York City.
Photographer: Timothy A. Clary/AFP/Getty ImagesThis article is for subscribers only.
WeWork Inc. named David Tolley chief executive officer, shifting his temporary status to permanent at the head of the struggling co-working real estate company.
Tolley takes over at a pivotal time for WeWork, which warned in August that it had “substantial doubt” about its ability to continue as a viable company. In September, Tolley said WeWork would renegotiate nearly all of its leases with landlords and planned to exit “unfit and underperforming” locations, in an effort to cut costs and stave off bankruptcy.