Shortly after going public, Lyft is losing one of its top executives, according to a new report from Bloomberg.
Jon McNeill, who joined the ride-hailing business from Tesla about 18 months ago, is reportedly stepping down. Lyft declined to comment.
Lyft’s stock (Nasdaq: LYFT) is down nearly 3% on the news. Despite a turbulent first month on the public market, Lyft has traded up the past three months, closing Friday up about 1%, at $65.52 per share, with a market cap of $18.55 billion.
Of his COO pick, Lyft CEO and co-founder Logan Green said in a statement provided to TechCrunch last year 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.”