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

2 days ago

Lalamove launches fast delivery campaign across ...

Lalamove wants to connect more with SMEs as they make up 90% of all business in these cities.

2 days ago

How brands and agencies are celebrating Singapore ...

Agencies and retailers are marking the city-state's 55th birthday with a mix of fun, sales and community giveback.

2 days ago

iQiyi to focus on driving product sales through ...

The Chinese video streamer is ramping up its offline activities like pop-up stores based on their original content.

2 days ago

A rebranding of… the dental clinic

New work by VMLY&R Australia is an ambitious attempt to make trips to the dentist ‘fun’ and ‘hip’.