Former SoftBank country head Manoj Kohli joins WeWork India as independent board director

Manoj Kohli

Former SoftBank country head Manoj Kohli has joined WeWork India as an independent board director, nearly four months after leaving the Japanese investment conglomerate.

Kohli, an industry veteran with over 40 years of experience across industries, including manufacturing, telecom, renewable energy and digital sectors, will work with the flexible workspace company to focus on scaling the business and long-term growth, WeWork said in a statement on May 22.

In his previous role as the Country Head of Softbank, Kohli supported the SoftBank Group and its Vision Fund investment arm in investing $15 billion in over 25 artificial intelligence (AI)-focused portfolio companies in India, WeWork said. Kohli left SoftBank in January. In April, he joined Gurugram-based business school Masters' Union as its chairperson.

Kohli also aided entrepreneurs and chief executives of startups like Ola, Oyo, Lenskart, Grofers (now Blinkit, acquired by Zomato), Snapdeal, Uber, Swiggy, and Unacademy, among others, in addressing the regulatory and government issues and scaling their businesses manifold, providing curated coaching on effective execution of a profitable growth strategy, the company said.

Kohli has previously served on the board of GSM Association, a global body of more than 700 GSM mobile operators in 218 countries. He also held the position of Chairman of the CII (Confederation of Indian Industry) task force on ease of doing business and is currently serving as the Chairperson of the CII Unicorn Forum for attracting new tech investments in India. He has worked in the US, Europe, China, and Japan and built businesses in 25 countries in Asia Pacific and Africa, WeWork said.

“I am optimistic about the potential of the flexible workspace industry in India, and believe that WeWork India is poised to play a significant role in this growth story. I am excited to join WeWork India at this pivotal point and leverage my expertise in managing and scaling up businesses," said Kohli in a statement.

Along with Kohli, Anthony Yazbeck, President and Chief Operating Officer, WeWork Inc, has also joined WeWork India's Board, the company said. Before this, Yazbeck was serving as WeWork Inc's President and Chief Operating Officer of international business and the flexible workspace company's Chief Operating Officer of Europe, China and the Pacific for five years. WeWork said that Yazbeck played a key role in scaling the European business and transforming the company's operations in China.

"The performance of the WeWork India business is a testament to the strength of the WeWork brand and product. Flexibility and community are proving to be a powerful combination and, with a suite of flex space solutions, WeWork India is very well positioned to meet the evolving demand for dynamic workspaces across the country," Yazbeck said.

The two appointments on WeWork India's Board come on the heels of the company reporting a 70 percent revenue growth in the calendar year 2022. WeWork India clocked revenue of Rs 1,300 crore and an EBITDA (earnings before interest tax depreciation and amortisation) of Rs 185 crore.

WeWork India is a joint venture between domestic commercial realty major Embassy Group and WeWork International that owns 27 percent of the company.

The company expects its revenue to grow 50-70 percent in the current calendar year, driven by the 90 percent occupancy levels and the extra capacity of 20,000-odd desks it is looking to add during the period, its CEO Karan Virwani told Moneycontrol in an interview in December.