NEW YORK - WeWork, seeking a new chief executive to lead the coworking company's overhaul, is in talks with John Legere of T-Mobile, according to two people briefed on the discussions.
Facing questions about the viability of its business model and its unusual corporate governance, the company called off its initial public offering in September. Also that month, WeWork's co-founder Adam Neumann stepped down as chief executive, to be replaced by two executives, Sebastian Gunningham and Artie Minson.
Mr Legere, 61, does not have a background in commercial real estate, but at T-Mobile he has been a disruptive force. He slashed prices, introduced new plans and heaped ridicule on rival cellphone companies like Verizon, AT&T and Sprint. His approach has paid off for T-Mobile, which has more than doubled its subscribers under Mr Legere.
Significant conflicts of interest are embedded in these talks. Mr Legere is separately renegotiating the terms of T-Mobile's acquisition of Sprint, which cannot close until the case brought by the states is resolved. The merger deadline has passed, and Sprint remains a hobbled wireless business. T-Mobile's shareholders are pressing for better terms with a lower price.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »