(Reuters) – Japan’s SoftBank Group Corp (T:) is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported on Friday.

Claure, who is also the former chief executive of Sprint Corp (N:) and remains its executive chairman, has been asked by SoftBank Chief Masayoshi Son to take a “more hands-on role” at WeWork, according to the report, which cited people familiar with the matter.

Claure will help WeWork’s new leadership identify revenue and cost-saving opportunities, Bloomberg reported, adding that a decision on his exact role has not been made yet.

The report comes as WeWork’s parent We Company postponed its initial public offering last week after investor scrutiny over widening losses and corporate governance, as well as a business model that relies on long-term liabilities and short-term revenue.

WeWork’s directors voted on Tuesday to oust Adam Neumann as chief executive after a failed attempt to take the office-sharing startup public.

WeWork and SoftBank did not immediately respond to Reuters’ requests for comment on the report.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-09-27