Finance
Workspace CEO to step down, new CFO named amid shareholder pressure to wind-down
Published by Global Banking & Finance Review®
Posted on January 19, 2026
2 min readLast updated: January 19, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 19, 2026
2 min readLast updated: January 19, 2026
Workspace Group's CEO resigns amid shareholder pressure for a wind-down. New CEO and CFO appointed to address strategic challenges.
Jan 19 (Reuters) - Workspace Group said on Monday that its chief executive officer, Lawrence Hutchings, is stepping down and would be replaced by The Office Group's co-founder, Charlie Green.
The London-focused flexible office-space provider also named Tom Edwards‑Moss as CFO-designate to take over on February 23, with outgoing finance chief Dave Benson staying on until April 30 to ensure a smooth handover.
The moves come after major shareholder Boaz Weinstein's Saba Capital, which holds about 13.5% of Workspace, had urged it to pursue a managed wind-down, citing persistent challenges around share prices, refinancing, and shareholder register structure.
"Charlie Green's deep expertise in growth strategies and operational performance ideally positions him to accelerate the execution of our existing strategy", Workspace Chair Duncan Owen said in a statement.
The London-listed company's shares had fallen 10.5% in the last 12 months, as of Friday's market close. It had reported a pretax loss of 71.1 million pounds ($95.18 million) for the six months to September 30, as budget uncertainty led to delays in leasing decisions by businesses.
Saba Capital did not immediately respond to a Reuters request for a comment.
($1 = 0.7470 pounds)
(Reporting by Ankita Bora in Bengaluru; Editing by Rashmi Aich)
A CFO, or Chief Financial Officer, is the senior executive responsible for managing the financial actions of a company. This includes tracking cash flow, financial planning, and analyzing the company's financial strengths and weaknesses.
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled. It encompasses the mechanisms through which companies, and their stakeholders, are held accountable.
A managed wind-down is a strategic process where a company gradually ceases operations in an orderly manner, ensuring that all obligations are met and assets are properly disposed of.
A pretax loss occurs when a company's expenses exceed its revenues before accounting for income taxes. This indicates that the company is operating at a loss before tax liabilities are considered.
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