WeWork appoints Andre Fernandez as CFO

A WeWork brand is seen exterior its workplaces in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch/File Picture

Might 26 (Reuters) – Versatile workspace supplier WeWork Inc (WE.N) on Thursday appointed Andre Fernandez as its chief monetary officer (CFO), changing Benjamin Dunham.

Fernandez, who most just lately served because the CFO and government vice chairman of enterprise know-how supplier NCR Corp (NCR.N), will assume workplace on June 10, the corporate mentioned.

WeWork, which went public in October final yr, reported a smaller quarterly loss earlier this month and noticed its income rise about 28% to $765 million as greater adoption of the hybrid-work mannequin boosted its membership gross sales.

Corporations are more and more choosing a hybrid-work mannequin to be more economical in a excessive inflation surroundings, benefiting workplace rental firms comparable to WeWork.

The New-York based mostly agency additionally reaffirmed its second quarter and full-year forecasts.

Earlier this month, WeWork tightened its current-quarter income outlook to $800 million to $825 million from $775 million to $825 million.

Reporting by Aishwarya Nair in Bengaluru

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