Struggling workspace solutions provider WeWork has appointed former Publicis Groupe CEO Maurice Levy as Interim Chief Marketing Officer and Chief Communications Officer as part of a turnaround plan announced Friday.
WeWork has been in turmoil for months after questions arose about the company’s value earlier this year as it prepared to file an initial public offering.
The IPO, filed in August, was withdrawn in late September.
Company founder Adam Neuman was ousted from the CEO perch and left the board in October.
Levy’s appointment followed closely after WeWork’s decision to lay off 2,400 employees as it tries to get back on track.
Levy had been CEO of Publicis Groupe for decades before transitioning to his current role of chairman of the Groupe’s supervisory board in mid-2017, when he was succeeded by current CEO Arthur Sadoun.
Also announced: Several executives from Softbank, the controlling shareholder in WeWork, have been appointed to senior roles at WeWork.