SoftBank partner Kirthiga Reddy joins WeWork board

Under Mathrani, WeWork will refocus on office rentals and walk away from passion projects started by co-founder Adam Neumann.

Mathrani will report to Marcelo Claure, who will remain executive chairman.

The move is seen as majority owner SoftBank using its connections to buoy WeWork's business.

The money-losing office space operator is under pressure to cut costs after it pulled its IPO last year.