Mark Dixon, the man who practically invented the modern flexible workspace, is handing over the reins. After nearly four decades leading International Workplace Group (IWG) the company behind the Regus and Spaces brands. He is stepping back from his role as CEO. It is, without question, one of the biggest moments in the history of flexible work.
On Tuesday 16 June, IWG confirmed that Dixon will transition to Executive Chair, with Christian Schmitz, the company’s former Chief Transformation Officer, stepping up as the new CEO with immediate effect. Douglas Sutherland was also named Deputy Chair. The move is part of a broader drive to reduce costs and debt and sharpen the company’s profitability, this after IWG reported a record €4.5 billion in revenue in 2025.
Dixon founded IWG in 1989 and spent the decades that followed building it into the world’s largest provider of flexible workspaces, with over 4,000 locations across the globe. He turned what was once a niche concept, a professional address and a hot desk for the travelling executive into a genuine mainstream alternative to traditional office leases. Freelancers, startups, growing businesses, and global corporations all rely on the vast network he built. Not many founders can say they transformed an entire industry. Dixon can.
The timing of the transition is deliberate. IWG has been navigating a challenging environment: elevated debt, rising operational costs, and the ripple effects of geopolitical tensions in the Middle East. On top of that, the rapid advance of AI is prompting businesses of all sizes to rethink how and where their people work. Schmitz, who was already steering IWG’s transformation strategy from the inside, now faces the task of guiding the business through those headwinds as its new public face.
For the wider flexible workspace and virtual office sector, this is no small event. IWG sets the pace on pricing, service innovation, and international expansion. The strategic direction Schmitz takes will be closely watched by operators, investors, and businesses that depend on flexible workspace solutions and the first major decisions will signal whether IWG is ready to accelerate or consolidate.
The Dixon era is over. A new chapter begins at the world’s largest flexible workspace company and the entire industry will be watching closely. Whether you run a startup, freelance from a café, or lead a fast-growing team, one thing remains clear: flexible, professional workspace has never been more central to the way modern businesses operate.
