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By TechThop Team
Posted on: 22 Sep, 2022
A 'long-planned' restructuring at the micro-mobility business Bird promotes Shane Torchiana to CEO, replacing VanderZanden.
Ben Lu, a former chief financial officer of Archer Aviation, has joined Bird as its new CFO, replacing Yibo Ling in that position.
Bird engineering executive Lance Bradley has also been elevated to chief technology officer, replacing Justin Balthrop, the company's former product director.
VanderZanden, the experienced startup entrepreneur, resigned from his position as president in June, less than three months ago.
After receiving a delisting warning from the New York Stock Exchange, Bird resigned from his position as president.
The company lost $310 million in the second quarter of 2022, but its quarterly revenue recovered and increased to $76.7 million, a notable (28%) increase from the previous quarter.
Bird presented the leadership reorganization as a step toward profitability.
VanderZanden said, The organizational changes announced today reaffirm our commitment to positioning Bird for long-term profitable growth, and called the reorg a long-planned transition
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