Coworking space company WeWork on Saturday named real estate executive Sandeep Mathrani as the new CEO of the company, the Wall Street Journal reported.

Mathrani had been the CEO of Brookfield Properties’ retail group since August 2018, with his last day at the company on Jan. 31. He also served as the CEO of mall operator General Growth Properties for nearly eight years.

In addition, he served as executive vice president at real estate investment company Vornado Realty Trust for eight years. The company invests in office properties and street retail in the New York borough of Manhattan.

Mathrani will be reporting to Marcelo Claure, the chief operating officer of Japan-based Softbank Group Corp., which has invested $18.5 billion in WeWork.

Mathrani will take over the helm of the We Company after its former CEO Adam Neumann departed in September. Neumann was the founder of WeWork and managed to turn it into a multi-billion dollar international enterprise. He planned to take the company public in September but the firm’s precarious financial status and confusing corporate structure under his leadership concerned investors.

WeWork ended up canceling its IPO plans, with Softbank bailing out WeWork in October, valuing the company at around $8 billion. Neumann reportedly will receive almost $1.7 billion in cash, stock and credit from Softbank as part of the deal.

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