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Lyft COO Jon McNeill Steps Down, Shares Go Down By 2%

Months after Lyft’s government debut, one of its leading managers loses.

On Monday, the news revealed that CEO Jon McNeill had left his position just 18 months after he joined the Tesla company. The COO’s vacant position in the transport business will not be filled according to the e-mail examined by Bloomberg News. Lyft’s co-founders Logan Green and John Zimmer have instead stated that they will split McNeill’s duties among other staff. Rex Tibbens, the former occupied the job, was in Lyft for over two years. It is worth noting that

“We wish him the very best as JMac goes on to his next section,” he wrote in the notice to his staff and Zimmer. They also praised McNeill’s contribution to Lyft’s growing car programs, including the introduction of Lyft drivers repair stores.

In February 2018, the former operating officer went to Lyft with extensive experience in the car industry. He was a coveted deputy of Elon Musk. During his years at the electric car manufacturer, McNeill served as Tesla’s chairman of worldwide sales and service.

Exec’s departure reports did not bode well for the already difficult inventory of Lyft, as it dropped even further after the announcement.

It has not stopped developing a range of transport projects, such as its ambitious automated vehicle program in collaboration with Aptiv, in the money-losing business model of the company.

For nearly two years, the firm has carried out driverless experiments in Las Vegas. The Competitive AV program, which includes shared rides, e-bikes and scooter rental, is a component of a future approach to expand the present transport alternatives for Left.

Over the years the firm has emerged as the biggest competitor for Uber in regional and overseas level. While Uber, on the other hand, has been in the headlines due to snipping out 400 jobs in the marketing sector, Lyft is struggling to maintain its balance due to the stepping down of its COO.

Originally founded by Logan Green in 2012, the transport network company has expanded its service to over 640 cities in the United States and 9 in Canada. The news of Lyft’s Cheif Operating Office Jon McNeill leaving the company has resulted in a quick 2% fall in Lyft’s shares though exact figures are yet to be revealed by the company. McNeill came to Lyft from Tesla, where he served as president of global sales and services. Currently, no name has emerged who might replace Jon as the new COO of the transport network company, Lyft. But we look forward to an official announcement regarding the new COO and the fall in shares soon.