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WeWork Shuffles C-Suite Team Ahead Of Potential IPO

Having secured $760M in its latest round of funding this week, pushing its valuation to $20B, WeWork is shuffling its C-suite team to better position the company for future growth.

WeWork co-founders Miguel McKelvey and Adam Neumann

The co-working forerunner’s former chief cultural officer, Jennifer Berrent, has been promoted to chief operations officer, and her role will be filled by co-founder and chief creative officer Miguel McKelvey, TechCrunch reports.

McKelvey told the technology news website he is interested in spending more time on the human resources side of the company, stating he has grown weary of overseeing WeWork's many projects. Instead the co-founder wants to get his hands dirty by being immersed in the everyday tasks of employees and working to improve members' experiences.

“People appreciate the environments and the sort of spirit of what we’ve been able to create,” McKelvey told TechCrunch. “But it’s been a very organic process, so we’re approaching things in a new way and thinking about how we can crystallize these things that have been conceptual."

As of late the company has been working to restructure its leadership into four separate divisions amid the IPO buzz. The co-working giant hired James Woods, whose résumé includes running Brooklyn Bowl and serving as an executive at Starwood Property, earlier this year to head up the company’s co-living operation, WeLive. Another Starwood alumnus, Richard Gomel, will lead WeWork’s co-working business.