IWG founder Mark Dixon steps down as CEO, becomes chairman

Mark Dixon, the founder of flexible workspace giant International Workplace Group (IWG), is stepping down as CEO after nearly four decades at the helm. He will transition to the role of executive chairman, handing day-to-day leadership to Chief Transformation Officer Christian Schmitz. The leadership change is expected to take effect later this year.

Dixon founded the business as Regus in Brussels in 1989. The company has grown into a global network of more than 6,000 locations across more than 120 countries under brands including Regus, Spaces, HQ, and Signature. IWG has recently focused on expanding into suburban markets and secondary cities, arguing that corporations are increasingly adopting hub-and-spoke workplace strategies.

Investors appeared to welcome the succession announcement, with IWG shares rising slightly above 1% following the statement. However, the stock remains down nearly 19% since the start of the year amid broader concerns about economic growth and office demand. Schmitz, who joined IWG in 2022, will inherit a business betting heavily on continued growth in hybrid working.