NEW YORK: WeWork’s global marketing and communications functions have been reorganized, with chief communications officer Lauren Fritts appointed as chief corporate affairs and marketing officer.
Based in New York City, Fritts will continue to report to CEO Sandeep Mathrani. Fritts has been the company’s CCO since July 2020. As the promotion is an expansion of duties, Fritts will continue with her prior comms and public affairs responsibilities. WeWork is not looking to fill Fritts’ CCO role, according to a WeWork spokesperson.
Roger Solé, who joined WeWork as CMO in April 2020, is leaving the company at the end of the year but will stay on to assist with the transition.
Previously, Fritts oversaw the global corporate communications and the public affairs teams, now renamed as the corporate affairs team, according to a WeWork spokesperson. Fritts will now also oversee the global marketing team, previously reporting to Solé. This includes the global brand, content, and CRM and analytics teams, whose responsibilities will remain largely the same.
In an internal memo, Mathrani wrote that with global marketing and communications under one roof, the new structure “can not only take our brand to the next level, but can also foster a cohesive message across all of the ways we engage with our core constituencies.”
He added that uniting comms and public affairs with global marketing, “the goal is to not only align and integrate the efforts of these teams, but to also establish one center of excellence for our brand.”
His memo thanked Solé for rebuilding the brand and spearheading WeWork’s All Access products. That program provides flexibility by allowing advanced booking of open workspace at all available locations worldwide.
Before joining WeWork in 2017, Fritts was digital director and deputy communications director for Chris Christie while he was New Jersey governor and also during his 2016 presidential campaign. She also worked as a producer for Fox News.
In Q3 2021, WeWork reported total revenue of $661 million, representing an 11% increase compared to the prior year. However, the company plans to restate its financial statements for 2020 and 2021 due to an accounting classification error of shares issues with the initial public offering of BowX Acquisition Corp., according to The Wall Street Journal.
WeWork went public in October through a combination with BowX, a special purpose acquisition company. BowX listed on the Nasdaq in August 2020.
This story was updated on December 2.