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

Creativity is key to driving sustainable living

SPIKES ASIA X CAMPAIGN: Active consumer demand for sustainable living is lagging regulations and technology, and this is an opportunity for the creative business to make a real, positive impact.

1 hour ago

Greater precision and effectiveness with AI

SPIKES ASIA X CAMPAIGN: Embark on a journey to discover and push the boundaries of alternative applications of AI in connecting the trinity of the brand, the media and the creative to propel marketing effectiveness.

1 hour ago

China's media dystopia

SPIKES ASIA X CAMPAIGN: A panel from Mindshare imagines the various potential fates of media in the world’s most advanced digital market, China, based on the emerging technologies and changing consumer trends we see today.

2 hours ago

Upcycling creative content: Making the most out of ...

SPIKES ASIA X CAMPAIGN: Business and creative experts explores a leaner, meaner, more cost-efficient, and more agile creative methodology.