IWG Share News (IWG)

(Sharecast News) - Workspace provider IWG has appointed Glyn Hughes as its new chief financial officer, it announced on Thursday, with effect from 25 March when he would also join the board.
The FTSE 250 company said Hughes was taking over the role from Eric Hageman, who would resign as a director of IWG on that date, while remaining for a transitional period to ensure a smooth handover.

It said Hughes had previously spent more than a decade with the Jardine Matheson group in several senior finance and executive leadership roles, with "significant" franchising activities across various markets.

More recently, he was interim chief executive officer at Mothercare, having previously been the CFO, where he was said to be "instrumental" in driving significant strategic initiatives to transform its global franchise business.

Hughes was already familiar with IWG, the company noted, having joined the group in 2020.

"Glyn is a capable leader who brings highly relevant international franchising experience to IWG's finance and operations teams," said chairman Doug Sutherland.

"We look forward to working with Glyn in his new role as we continue our strategic transformation to a capital light model to accelerate growth."

Mark Dixon, chief executive officer of IWG, said departing CFO Hageman had been a "key member" of the management team through the Covid-19 crisis, and was leaving the business in an "excellent position" in the flexible workspace market.

"I am delighted that we have secured someone of Glyn's calibre and international experience to take over from Eric," Dixon said.

"Glyn has already made a meaningful impact on the business over the last few months and I look forward to working more closely with him as we continue to help the world adapt to a new way of working."

Glyn Hughes added that since joining IWG, he had observed "compelling prospects" for the future of the sector.

"I am excited to become CFO and look forward to working closely with the board, management team and IWG colleagues to capitalise on the opportunities created by the seismic shift to hybrid working."

At 0810 GMT, shares in IWG were up 0.06% at 346.4p.