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WeWork appoints Andre Fernandez as CFO -Breaking


© Reuters. FILE PHOTO A WeWork logo can be seen at its San Francisco offices on September 30, 2019, U.S. REUTERS/Kate Munsch/File Photo

(Reuters) – WeWork Inc has named Andre Fernandez, a provider of flexible workspaces (CFO) to its top financial officer (CFO), on Thursday. He replaces Benjamin Dunham.

Fernandez (formerly CFO, executive vice president, enterprise technology provider NCR) Corp) will be taking over the office starting June 10, said the company.

WeWork reported an earlier quarter loss and its revenues rose by 28% to $765m. The higher adoption of its hybrid-work model helped increase its member sales.

To be cost-effective in high inflation environments, companies are opting to use a hybrid work model. This is a benefit for office rentals such as WeWork.

New York-based company also reiterated its full-year and second quarter forecasts.

WeWork increased its outlook for current-quarter revenues to $800 million, $825million from $775million to $825million earlier in the month.