August 19, 2019 / 7:22 PM / a month ago

MOVES-WeWork's business and financial operations chief departs-sources

Aug 19 (Reuters) - Ted Stedem, WeWork's global head of business and financial operations, has left the U.S. shared office space manager ahead of its anticipated initial public offering (IPO), people familiar with the matter said on Monday.

Stedem has stepped down to join another company as chief financial officer, one of the sources said, without disclosing that company's identity. The sources asked not to be named because Stedem's move has not been announced.

WeWork declined to comment, while Stedem could not be immediately reached for comment.

Before joining WeWork in 2017, Stedem was chief financial officer of Yum! Brands Inc's China business. Before joining Yum! Brands in 2009, Stedem worked in finance, business development and marketing roles with Merrill Lynch, Bain Consulting and Office Depot.

Last week, WeWork owner The We Company published detailed financial statements for the first time, revealing breakneck revenue growth and soaring losses, as it prepares for an IPO as early as next month.

Reporting by Joshua Franklin and Herbert Lash in New York; Editing by Nick Zieminski

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