Mark Dixon has stepped aside as CEO of International Workplace Group plc four decades after he founded the flexible workspace firm.
He will become executive chair and be succeeded by Christian Schmitz, who joined the firm last year as chief transformation officer and subsequently served as global head of all regions.
Douglas Sutherland, currently non-executive chair, becomes deputy chair.
Dixon founded IWG in 1989 and, over nearly four decades, has built the company into the global leader in flexible workspace, with a network spanning more than 120 countries through brands such as Regus, Spaces, HQ and Signature.
Schmitz was a partner at McKinsey & Company in San Francisco and a director at KKR Capstone, advising and leading complex transformation programmes across a range of businesses.
He has transformed multiple KKR portfolio companies, among them Selecta, where he served as CEO for six years, leading the European food technology and workplace services business through a period of significant change and successfully positioning it for the future.
“Since founding IWG nearly 38 years ago with a single centre in Brussels, it has been a privilege to lead the company as it has grown to 6,000 locations open and in the pipeline across the world,” said Dixon.
“The business continues to perform in line with expectations and we are in a period of enormous opportunity for IWG. As demand for flexible workspaces continues to grow worldwide, the business is exceptionally well-positioned to capitalise on this trend.
“Christian is an exceptional leader with a strong track record of driving transformation and performance. Since joining IWG, he has made a significant impact, bringing deep insight into our business and a clear focus on execution. He is ideally positioned to lead IWG through its next phase of growth.”
Schmitz said: “I have been hugely impressed by my experience at IWG, its people and the strength of the business. The growth opportunity ahead of us is enormous: demand for flexible workspace is accelerating in every market, and IWG is exceptionally well positioned to capture it.
“I am energised by the scale of what we can achieve, and I look forward to working with IWG’s teams around the world to seize this momentum and drive our most ambitious phase of growth yet.”