 "WeWork")
Co-working major WeWork India on Monday announced the appointment of Jitendra Mohandas Virwani as Non-Executive Chairman of the company while Karan Virwani will now be Managing Director and CEO.
In WeWork India, realty firm Embassy Group holds a 73 per cent stake, while WeWork Global has a 27 per cent shareholding.
WeWork Global, which is a leading provider of flexible workspace, had in June 2021 invested $ 100 million in WeWork India.
In a statement, the Bengaluru-based company said it has made key changes to its board of directors.
"Jitendra Mohandas Virwani, Chairman and Managing Director of Embassy Group, steps into the role of Non-Executive Chairman, lending his industry insight to further strengthen WeWork India's growth strategy," it said.
Karan Virwani has now taken on the expanded role of Managing Director & CEO.
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Mahua Acharya and Anupa Rajiv Sahney have joined as Independent Directors.
Mahua, who has experience in electric mobility and climate finance, most recently served as MD and CEO of Convergence Energy Services Ltd. Anupa, an advisor, serves on several corporate and advisory boards, including the Harvard South Asia Institute.
Adnan Ahmad, member of the board of directors of WeWork Inc. and senior advisor to Yardi Systems, Inc, will also join the WeWork India Board of Directors, taking over from David Mayland, Vice President, Head of Corporate Development, WeWork Inc.
Additionally, Manoj Kumar Kohli transitioned to Independent Director on September 27, 2024, enhancing the board's governance further.
Commenting on the board changes, Karan Virwani said, "Our strengthened board brings together a diverse range of individuals with top-tier experience across critical sectors, including real estate, sustainability, finance, and technology." Their deep understanding of corporate governance and experience in private and publicly listed businesses as well as guiding high-growth companies will bring invaluable insights, he added.
"This enhanced leadership structure strengthens our foundation and positions us to drive sustainable, impactful growth across all aspects of our business as we continue to influence the future of work," said Karan.
WeWork India is one of India's leading premium flex office space providers. Since its inception in India in 2016, WeWork India has expanded across 61 locations in Chennai, New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad.
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