In 2010, Sandeep Mathrani took over as chief executive of mall owner General Growth Properties, which had just filed for the largest-ever real estate bankruptcy. Mathrani raised billions of dollars to recapitalize the company, spun off struggling malls and eventually sold the firm for $15 billion.
WeWork, another troubled real estate firm hoping for a turnaround, on Saturday named Mathrani as its next CEO. He will be taking the helm of the co-working company months after it nearly collapsed, and when it still is trying to raise billions of dollars in new capital from investors to keep going.