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WeWork shuffles C-suite executives amid international push
Former managing director of Asia and Europe was promoted to COO
The co-working giant formerly known as WeWork is reorganizing its C-suite as it tries to build its international presence.
The We Company promoted Eugen Miropolski to chief operating officer from managing director of Europe and Asia — excluding Japan. Miropolski will remain based in London, according to Recode. Its COO Jen Berrent was named co-president and will remain the company’s chief legal officer, reporting to CEO Adam Neumann.
WeWork, which has had an international presence since 2014, expanded to nine new countries last year and plans to open its first office in Africa in Johannesburg. Miropolski told Recode that he’ll be focused on expanding WeWork “whether they’re in Jakarta or Johannesburg.”
The SoftBank-backed company said at the end of last year that more than half of its workspace desks were outside of the U.S. Despite its revenue more than doubling to $1.82 billion, heavy spending toward worldwide expansion led to losses of $1.93 billion for the year.
The We Company has also been on an acquisition spree, most recently buying office management startup Managed By Q, a platform that office tenants can use to hire on-demand staff like receptionists, IT support or cleaners. In February, the company acquired Euclid, a platform that monitors people’s movement in physical space, offering “workplace insights.”
The We Company’s latest valuation reached $45 billion after it secured a $3 billion investment from SoftBank, making it the second most valuable U.S. startup. [Recode] —Katherine Kallergis