Embattled shared-workspace firm WeWork is looking to T-Mobile to help fill the C-suite.
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The Softbank-backed brand, which withdrew its plans to go public last month due to serious challenges in its business model, has reached out to T-Mobile CEO John Legere to overhaul leadership at the company as soon as January, FOX Business' Charlie Gasparino confirmed. It is unclear how serious discussions have been. Legere is expected to step down after completing a $26 billion merger with wireless competitor Sprint.
The merger, provisionally approved by the Federal Communications Commission if the companies meet certain conditions, could generate a windfall for Legere. But there is no guarantee that the T-Mobile head, who’s run the company for six years, will accept the role.
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Legere, if interested, would take over for co-founder Adam Neumann who was forced out as CEO amid reports of questionable actions, including cashing out about $700 million of WeWork stock before the IPO. There were also reports Neumann was not subject to the type of corporate governance required at companies.
Amid the disclosures, investors scrambled and WeWork's valuation tumbled from around $47 billion to around $11 billion.
T-Mobile did not immediately respond to a request for comment from FOX Business.
The Wall Street Journal was first to report the talks between WeWork and Legere.