On Tuesday, International Workplace Group plc. (IWG.L) announced that it has appointed Christian Schmitz as the new Chief Executive Officer. He succeeds the founder and current CEO, Mark Dixon, who becomes Executive Chair.
Meanwhile, current Non-Executive Chair, Douglas Sutherland, becomes Deputy Chair. Schmitz joins the Board on June 16.
Dixon noted that the leadership changes come as the business continues to perform in line with expectations and is well positioned to capitalise on the ongoing growth in demand for flexible workspaces.
Having founded in 1989, Dixon expanded the workspace provider across 120 countries through brands like Regus and Spaces, HQ, and Signature. As the executive chair, he will be acting as an advisor for the current CEO and provide strategic guidance to the Board.
Schmitz joined IWG last year as Chief Transformation Officer and subsequently Global Head of all Regions. He helped in accelerating operational execution, strengthening performance and advancing the company's strategic priorities.
Prior to IWG, Schmitz was a partner at McKinsey & Co. in San Francisco and a Director at KKR Capstone, where he was an advisor and took charge in complex transformation programmes across a variety of businesses. He served as a CEO in Selecta for six years, which was among the multiple KKR portfolio companies he transformed.
About Schmitz, Dixon said, "Since joining IWG, he has made a significant impact, bringing deep insight into our business and a clear focus on execution. He is ideally positioned to lead IWG through its next phase of growth."
On the London Stock Exchange, the shares were trading 0.27 percent lower at 181.60 pence.
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