WeWork names new executives, outlines path to profitability by 2023: Report

WeWork named four men to executive roles on Friday and outlined a six-point path to profitability, though the money-losing flexible office space operator said it will not be cash flow positive until 2023, according to a media report.

Marcelo Claure, a SoftBank executive who was named executive chairman at WeWork one month ago, emphasized the company’s attributes as real estate concern, a departure from its past representation as a technology company, Business Insider said.

Maurice Levy, chairman of ad agency Publicis Groupe SA, was named interim chief marketing and communications officer. A new chief product and experience officer, chief transformation officer and chief people officer were also named.