WeWork Appoints Former Baker Hughs Executive as New CFO
WeWork has named former Baker Hughs finance chief Kimberly Ross as its new CFO, effective March 16. She is the latest executive appointment by new chief executive Sandeep Mathrani, who joined the office-sharing startup last month. Mathrani’s first major executive hire was former Ernst & Young executive, Shyam Gidumal, as the company’s chief operating officer.
The new executive team put into place by Executive Chairman Marcelo Claure will focus on rebuilding the company after its failed initial public offering last year, and subsequent emergency rescue by Softbank with a $9.5 billion bailout as the company was running out of cash. WeWork lost a net $1.25 billion in the third quarter of 2019. In November, Claure outlined a turnaround plan for the company aiming for profitability by 2021. Ross will oversee WeWork’s finances as it attempts to meet this goal.
She was most recently senior vice president and CFO at Baker Hughs for three years. Prior to WeWork, Ross served in the same role at Avon Products for three years after spending a decade at Ahold Delhaize, a Dutch international retailer. She also sits on the board of PQ Corporation, Chubb Insurance Group and Nestlé S.A.
Mathrani said in a statement that Ross “has a wealth of experience managing corporate finance for leading global companies and positioning them to operate efficiently and with discipline in order to deliver on financial targets.” He added that the “caliber of executives who have recently joined WeWork reflects the great potential in our business and transformational plan to deliver for our members and reinforce the Company’s position as a defining force in the future of work.”