WeWork appoints Andre Fernandez as CFO

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Fernandez, who most recently served as the CFO and executive vice president of enterprise technology provider NCR (NYSE:NCR) Corp, will assume office on June 10, the company said.

WeWork, which went public in October last year, reported a smaller quarterly loss earlier this month and saw its revenue rise about 28% to $765 million as higher adoption of the hybrid-work model boosted its membership sales.

Companies are increasingly opting for a hybrid-work model to be more cost effective in a high inflation environment, benefiting office rental companies such as WeWork.

The New-York based firm also reaffirmed its second quarter and full-year forecasts.

Earlier this month, WeWork tightened its current-quarter revenue outlook to $800 million to $825 million from $775 million to $825 million.