IWG Regulatory News (IWG)

Appointment of Chief Financial Officer

IWG plc ("IWG" or the "Group"), the global operator of leading co-work and workspace companies, has appointed Glyn Hughes as Chief Financial Officer (CFO) with effect from 25 March 2021 when he will also join the Board. Glyn takes over the CFO role from Eric Hageman who will resign as a director of IWG plc on that date while remaining for a transitional period to ensure a smooth handover.

Glyn 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 Glyn was interim CEO of Mothercare plc, having previously been the CFO, where he was instrumental in driving significant strategic initiatives to transform its global franchise business. Glyn is already familiar with IWG having joined the Group during 2020.

Doug Sutherland, Chairman of IWG said: "We are delighted that Glyn Hughes will be joining the IWG Board as CFO. Glyn is a capable leader who brings highly relevant international franchising experience to IWG's finance and operations teams. 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. On behalf of the Board, I would like to take this opportunity to thank Eric Hageman for his significant contributions during his time with IWG especially as we navigated the unique challenges of 2020. Eric leaves the business with a strong balance sheet to support our rapid growth ambitions. We wish Eric the very best for the future."

Mark Dixon, CEO of IWG said: "I would like to personally thank Eric for his contribution to IWG as CFO. He has been a key member of the management team, helping the business weather the COVID-19 storm and, importantly, leaving the business in an excellent position to continue to extend our position as the global leader in the flexible workspace market. I wish Eric every success for the future. I am delighted that we have secured someone of Glyn's calibre and international experience to take over from Eric. 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: "Since joining the Group I have witnessed first-hand the compelling prospects for the future of this fast-growing dynamic sector. I am excited to become CFO and look forward to working closely with the Board, management team and IWG colleagues to capitalize on the opportunities created by the seismic shift to hybrid working. "

This announcement contains inside information.

Pursuant to LR9.6.13R of the Listing Rules of the UK Listing Authority, Mr Hughes was a director of Mothercare Business Services Limited and of Mothercare UK Limited when they were placed into administration.

ENDS

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