Oliver McAteer
Nov 24, 2019

Former Publicis CEO Maurice Levy is WeWork's new CMO

Leadership unveiled a turnaround plan on Friday.

Former Publicis CEO Maurice Levy is WeWork's new CMO

Former Publicis CEO and industry legend Maurice Levy is to sit at the helm of WeWork’s marketing department, it has been reported.

He will take on the role of interim chief marketing and communications officer following an internal announcement on Friday, according to Bloomberg.

Levy joins a slate of new leadership as the company realigns its focus to become cash-flow positive by 2023. Ralf Wenzel and Mike Bucy, both from SoftBank Group, will join as chief product officer and chief transformation officer respectively.

Executive Chairman Marcelo Claure reportedly said the company would continue to expand its location base and nodded to franchising as a possible new revenue stream.

The news follows an announcement earlier this week in which WeWork outlined plans to cut around 2,400 employees.

WeWork reported losses of $1.25billion in Q3. It's a dramatic increase in what the company ate in the same period a year prior: $497million.

WeWork has not yet responded to a request for comment.

Source:
Campaign US

Related Articles

Just Published

1 hour ago

Apple is the world's first $1 trillion brand: Kantar

Apple has secured the most valuable spot for the third year running. NVIDIA, meanwhile, has ridden the AI wave to leap into the top 10, enjoying a 178% brand value increase.

9 hours ago

Why Cannes Lions is taking sport seriously

Since its launch in 2021, the sports category at Cannes Lions has evolved to reflect a wider shift in marketing and culture, says the Entertainment Lions for Sport jury president and Fuse chief executive.

9 hours ago

Global agency groups Q1 2024 report card: 'big six' ...

WPP and Dentsu’s organic revenues declined, while the other major holding companies achieved growth.

9 hours ago

AI can bring greater precision and accountability ...

Ahead of Cannes Lions, Campaign asked the CEOs of the big six agency groups how they make the business case for investing in creativity in the age of AI. Philippe Krakowsky of Interpublic Group is the latest in the series.