Mark Dixon steps down as IWG chief after nearly 40 years

Mark Dixon is stepping down as chief executive of International Workplace Group after nearly 40 years leading the flexible-workspace company he founded in 1989.

Christian Schmitz, who joined IWG last year, will take over day-to-day leadership as chief executive. Dixon will become executive chairman, while Douglas Sutherland will move from non-executive chairman to deputy chairman.

Leadership handover

IWG said the transition is designed to preserve Dixon's industry knowledge and experience while ensuring an orderly handover to Schmitz.

Schmitz joined the company as chief transformation officer and later became global head of all regions. His promotion gives the company a new operating lead while keeping Dixon involved in strategy.

Dixon's legacy at IWG

Dixon founded the business in Brussels in 1989, when it was known as Regus. It later became International Workplace Group and grew into the world's largest provider of serviced office space, with brands including Regus, Spaces and Signature.

He has led the company through decades of expansion and stress, including earlier market shocks and restructuring periods. Dixon remains a major shareholder, with just over a quarter of IWG's shares.

What investors will watch

The succession keeps Dixon close to the business, but the change still marks a major governance shift for one of the longest-running founder-led groups in the UK market.

The exact effective date of the handover has not been confirmed in the available reporting. Investors will be watching for the formal company announcement, any timetable for Schmitz's takeover and further comments on strategy and governance.