Embattled office-sharing company WeWork is looking for a new CEO, and a new report points to one possibility: T-Mobile CEO John Legere.
The company is reportedly in talks with Legere, though it’s unclear how far those talks have gone or if T-Mobile’s CEO would accept the position, The Wall Street Journal reported on Monday. Legere is reportedly “among several candidates” being considered for the role, according to a report on CNBC.Representatives for WeWork and T-Mobile didn’t immediately respond to a request for comment.
WeWork has been in trouble for weeks following a disastrous attempted IPO in August.
The company’s valuation tumbled in spectacular fashion as its attempted IPO imploded, and now its biggest backer, Japanese conglomerate Softbank, is attempting to correct course after a buyout. WeWork is worth less than $5 billion, according to Softbank, down from nearly $30 billion in June.
Its former CEO and cofounder, Adam Neumann, was ousted and replaced by two co-CEOs, Sebastian Gunningham and Artie Minson, as part of a series of moves attempting to restore confidence in the company and its leadership. After Softbank negotiated a deal to bail out WeWork, Softbank exec Marcelo Claure was tasked with overseeing the transition.
In an S-1 filing earlier this year, Neumann’s web of loans, real-estate deals, and family involvement with the company was revealed — which eventually led to his ousting.
Under Legere’s leadership, T-Mobile’s market cap has increased across the past seven years.
Not only has the company become more valuable, but it’s also begun the process of merging with Sprint — a move orchestrated by Legere. When he took over T-Mobile in 2012, the company’s stock was worth just $12/share; as of Monday afternoon, T-Mobile was trading at nearly $80/share.
Legere is famous for his eccentric approach to business and life.
He regularly wears a bright pink T-Mobile shirt, and even published a cook book based on regular livestreams he hosts while cooking. He’s also known for getting into the occasional spat with other executives on Twitter, including the Softbank exec who is currently serving as chairman of WeWork, Marcelo Claure.