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More On: wework WeWork may try to go public again after it becomes profitable WeWork killed Adam Neumann’s $185M consulting gig, exec says New book details the destructive, booze-fueled antics of WeWork CEO Adam Neumann We Company reportedly changing its name back to WeWork

WeWork Chief Executive Sandeep Mathrani said Wednesday the co-working firm is “completely on track” to reach profitability by the fourth quarter of this year, and its office spaces in China have nearly bounced back to pre-pandemic levels.

Mathrani took the helm at WeWork in February to turn around the company after a disastrous period in which WeWork scrapped its initial public offering, fired its founder Adam Neumann and faced bankruptcy.

In an interview during the Reuters Next conference, Mathrani said he expects many Americans will still want to work in an office environment despite the ongoing pandemic.

“We’ve seen mental health reasons for people who want to come back to work [in the office],” he said. “I’m a firm believer that the office is an important part of everyday living.”

WeWork locations in China “are back to virtually 90 percent of pre-COVID levels from an occupancy perspective and leasing and demand perspective, Mathrani said.

He added that WeWork currently has $3 billion of liquidity on its balance sheet, which is enough to carry the company through 2022.

Filed under china ,  Coronavirus ,  forecast ,  profit ,  wework ,  1/13/21

News Source: New York Post

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Walgreens Taps Starbucks Exec Brewer Roz Brewer As Its New CEO, Only Black Woman Leading Fortune 500 Company

CHICAGO (CBS/AP) —Walgreens said it has tapped Starbucks executive Roz Brewer as its new CEO, which will make her the only Black woman leading a Fortune 500 company.

Starbucks announced that Brewer was departing after a little more than three years as its chief operating officer. Deerfield-based Walgreens later confirmed that Brewer will take over as its CEO on March 15.

Brewer succeeds Stefano Pessina, who served as CEO for six years following the merger between Walgreens and Alliance Boots in 2014. Pessina will transition to executive chairman of Walgreens Boots Alliance Inc.’s board.

Pessina praised Brewer’s expertise in operations, customer relations, talent development and digital innovation.

“She is a distinguished and experienced executive who has led organizations globally through periods of changing consumer behavior by applying innovation that elevates customer experiences,” Pessina said.

Welcome to the team, Roz! ♥️ https://t.co/cYoVhbyDvO

— Walgreens (@Walgreens) January 27, 2021

At Starbucks, Brewer revamped stores, taking out clutter and cutting down on administrative work so employees could focus on customers and speed up service. She helped grow Starbucks’ rewards program and pushed for more diversity in its ranks.

Prior to joining Starbucks, Brewer served as president and CEO of Sam’s Club, the members-only warehouse channel of Walmart Inc. She also grew membership and improved merchandise there.

Before that, Brewer was with Kimberly-Clark Corp. for 22 years. Brewer __ who has a bachelor’s degree in chemistry from Spelman College __ started at Kimberly-Clark as a scientist and ultimately served as president of the Global Nonwovens Sector.

Brewer said she’s excited to innovate in the health care industry at Walgreens, especially as the company helps combat the coronavirus pandemic.

“I step into this role with great optimism for the future of WBA,” Brewer said in a statement.

Based in Deerfield, Illinois, Walgreens says it employs more than 450,000 people and has more than 21,000 stores globally.

Ursula Burns was the first Black woman to run a Fortune 500 company when she became CEO of Xerox in 2009. But she lost that role in 2016 when Xerox split into two companies.

There are only a handful of other Black CEOs in the Fortune 500, including Lowe’s CEO Marvin Ellison.

Walgreens has tapped Starbucks executive Roz Brewer as its new CEO, which will make her the only Black woman leading a Fortune 500 company.

Brewer will take over as Walgreens CEO on March 15 after a little more than three years as Starbucks’ chief operating officer. Brewer succeeds Stefano Pessina, who will transition to executive chairman of Walgreens’ board. Pessina praised Brewer’s expertise in operations, customer relations, talent development and digital innovation. Brewer is also the former president and CEO of Sam’s Club.

Copyright 2021 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed

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