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Lyft COO Unexpectedly Departs After Barely Over One Year At The Company
Jon McNeill, Lyft's Chief Operating Officer, has unexpectedly left the company, according to Bloomberg.
Lyft is having so much trouble retaining a COO that the company has said it won't hire a replacement for McNeill. The company has struggled to keep top lieutenants in past years, with McNeill's predecessor, former Amazon executive Rex Tibbens, lasting less than three years.
Prior to working at Lyft, McNeill spent two and half years working at Tesla, directly under Elon Musk. His title at Tesla was president of global sales and service. Upon his hiring at Lyft, the company touted his experience and welcomed him to the "Lyft family". Since then, of course, the company has gone public and seen its stock trade about 10% lower than its IPO price.
Lyft founders Logan Green and John Zimmer said in a email that McNeill's role and responsibilities will be reassigned to other employees, while crediting him with establishing new businesses, including car repair shops for Lyft drivers.
The e-mail stated: “As JMac moves on to his next chapter, we wish him the very best.”
Shares of Lyft fell nearly 4% in mid-day Monday trading on the news, before paring their losses.
https://www.zerohedge.com/news/2019-07-29/lyft-coo-unexpectedly-departs-after-barely-over-one-year-company-0
you'd think people would get hip to that but they don't
>>7245844 anon dig on Penguin Random House: Gave Hussein $65m for 2 books, owned by Bertelsmann
Citi combines its stock trading and prime brokerage business
Citigroup is combining its stock trading business with its prime brokerage unit, which caters to hedge funds, private equity firms and other investors.
The new unit, named Equities and Securities Services, will be co-led by Dan Keegan, Okan Pekin and Murray Roos. Keegan will also become head of markets and securities services for North America in addition to the new role.
Many other banks already have combined these units.
https://www.reuters.com/article/us-citigroup-markets/citi-combines-its-stock-trading-and-prime-brokerage-business-idUSKCN1UO22D