Shortly after going public, Lyft is shedding certainly one of its high executives, based on a brand new report from CNBC.
Jon McNeill, who joined the ride-hailing enterprise from Tesla about 18 months in the past, is reportedly stepping down. Lyft declined to remark.
Lyft’s inventory (NASDAQ: LYFT) is down practically 3% on the information. Regardless of a turbulent first month on the general public market, Lyft has traded up the previous three months, closing Friday up about 1% at $65.52 per share with a market cap of $18.55 billion.
Of his COO choose, Lyft CEO and co-founder Logan Inexperienced mentioned in a press release offered to Internetlast yr that “Jon is a world-class leader who brings deep experience as a highly successful entrepreneur and executive.”
“Last year, the Lyft community experienced more growth than in all previous years combined, growing rides by 2.3x and increasing market share by more than 50%. Jon is the right leader to build upon this momentum with his unique background of starting companies from scratch and managing at scale.”