WeWork’s Friday all-hands meeting focused on the road ahead, and its chairman named four men who will help steer the company’s stabilization efforts.
Marcelo Claure, who’s also SoftBank’s chief operating officer, explained the changes at Friday’s meeting.
He also addressed criticisms about leadership’s lack of diversity: Of the 13 people at the top of the company, only one — chief legal officer Jen Berrent — is a woman. Claure said the company would focus on diversity in the future and add women to the executive team and its all-male board of directors.
WeWork has been criticized for having a male-dominated, party-centric culture, with employees taking cues from the ousted founder Adam Neumann. Multiple women and people of color told Business Insider in a September feature that they felt WeWork’s professed culture of inclusivity didn’t seem to include them.
Claure and other top executives have repeatedly said that they’re breaking with WeWork’s past under Neumann.
WeWork’s additions to the executive team also illustrate how SoftBank is increasingly taking a direct role with leadership at some of its troubled investments. Earlier this month, the Japanese investor stepped in at automotive-leasing company Fair, ousting its chief executive and chief financial officer, who was the CEO’s brother, Business Insider previously reported.
At Fair, SoftBank put the operating partner Adam Hieber in the interim CEO role and named an outside executive, also a man, as chief financial officer.
WeWork’s new org chart
Business Insider obtained a copy of the new organizational chart, which shows co-CEOs Sebastian Gunningham and Artie Minson at the top, next to Claure. Gunningham continues to focus on strategy, while Minson — formerly the chief financial officer, among other roles — is on finance.
Below the trio are 12 direct reports, two of which — chief financial officer and head of real estate — are still to be determined.
These are the new roles:
Chief transformation officer: Mike Bucy, who’s tasked with making sure WeWork executes its six pillars. He comes from SoftBank, which he joined in 2018 after he was a partner at McKinsey. At the consultancy, he worked in North Carolina and Australia, according to his LinkedIn profile.
A profile on McKinsey’s website highlights that Bucy “specializes in private and public sector turnarounds, often serving in interim executive roles.” He has also been a real-estate investor for nearly 15 years in the southeast.
Interim chief marketing and communications officer: Maurice Levy, who’s the chairman of the holding company Publicis Group, which owns multiple ad agencies. Levy briefly addressed staff on Friday, wearing, like Claure, all black, according to an image viewed by Business Insider.
Levy became CEO of Publicis when he was 45 and stepped down in 2017, Business Insider previously reported. Publicis handled global ad buying for Sprint during Levy’s CEO tenure; Claure was previously the CEO of Sprint. Publicis lost the Sprint business in 2017, the same year Levy stepped down as CEO.
During his time at Publicis, Levy played a role in building Publicis into one of the leading ad-agency conglomerates. His last big move as CEO was the introduction of the “Power of One” strategy to get rid of silos in the group and the acquisition of agency SapientNitro.
Chief product and experience officer: Ralf Wenzel, who is a managing partner at SoftBank and has “proven CEO-caliber leadership,” according to Claure. Wenzel spoke with employees while wearing a black WeWork “do what you love” shirt, according to an image viewed by Business Insider.
Wenzel joined SoftBank in October as CEO of its Latin American tech hub, Reuters reported. Previously, Wenzel was an entrepreneur and investor. He founded the Berlin-based Foodpanda, a 40-country food-delivery company, and Skrill, a European electronic-wallet company.
Chief people officer: Matt Jahansouz was promoted internally to the role. He joined WeWork in February after nearly nine years in human-resources roles at Goldman Sachs, according to his LinkedIn profile. He started at the bank as a vice president of talent management and ended as a managing director and global head of recruiting.
Before Goldman, Jahansouz spent nearly a dozen years at Deloitte doing human-capital consulting.
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