International Workplace Group on Tuesday appointed founder and current CEO Mark Dixon as its executive chair, as the British office space provider tries to cut costs and debt and bolster profits.
The transition will see Dixon hand over the reins to insider Christian Schmitz after nearly 40 years in the role.
Schmitz, who joined IWG last year as chief transformation officer, is expected to join the board on June 16.
IWG, the owner of the Spaces and Regus brands, has been tackling rising debt and costs, pressured by the fallout of the Middle East conflict and AI-driven shifts in workplace strategy.
The company also appointed Douglas Sutherland as deputy chair. He was earlier a non-executive chair.
(Reporting by Roshni Srivastava in Bengaluru; Editing by Sonia Cheema)
