WeWork appoints Andre Fernandez as CFO

FLEXIBLE workspace provider WeWork on Thursday (May 26) appointed Andre Fernandez as its chief financial officer (CFO), replacing Benjamin Dunham.

Fernandez, who most recently served as the CFO and executive vice president of enterprise technology provider NCR, will assume office on Jun 10, the company said.

WeWork, which went public in October last year, reported a smaller quarterly loss earlier this month and saw its revenue rise about 28 per cent to US$765 million as higher adoption of the hybrid-work model boosted its membership sales.

Companies are increasingly opting for a hybrid-work model to be more cost effective in a high inflation environment, benefiting office rental companies such as WeWork.

The New-York based firm also reaffirmed its second quarter and full-year forecasts.

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