- WeWork Inc WE has appointed Andre J. Fernandez as Chief Financial Officer (CFO) effective June 10, 2022.
- This is the third time the co-working space operator has hired a finance chief since March 2020, the Wall Street Journal reported.
- Fernandez recently served as the CFO of Atlanta-based enterprise software company NCR Corp NCR.
- The WSJ report noted that WeWork's current CFO, Benjamin Dunham, will step down after eighteen months in the role.
- WeWork had earlier reported a 28% revenue increase for Q1 to $765 million.
- Outlook: WE reaffirmed its Q2 and FY22 guidance provided on May 12, 2022. WeWork's revenue guidance $800 million - $825 million (consensus $826.4 million) for Q2 and $3.40 billion - $3.50 billion (consensus $3.49 billion) for FY22.
- Price Action: WE shares closed higher by 3.09% at $7.00 on Thursday.
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