NEW YORK: WeWork is bringing on former Publicis Groupe CEO Maurice Levy as interim chief marketing and communications officer, executive chairman Marcelo Claure told employees at an all-hands meeting on Friday, according to media reports.
Claure reportedly said the company is hiring two other SoftBank employees, Michael Bucy as chief transformation officer and Ralf Wenzel as chief product and experience officer. Claure also said that WeWork should see positive adjusted earnings by 2021 and have positive free cash flow by 2023, according to CNBC.
The meeting came a day after the company said it is planning to lay off 2,400 employees in an attempt to reduce costs and improve the company’s finances.
Claure reportedly said WeWork’s co-CEOs, Artie Minson and Sebastian Gunningham, will stay with the company. The two took over in September when cofounder Adam Neumann stepped down as CEO.
Publicis Groupe named former Publicis Communications CEO Arthur Sadoun as chairman and CEO in 2017, with Levy transitioning to chairman of the holding company’s supervisory board at the time.