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Why did VanderZanden step down from his role as the president of Bird?


Why did VanderZanden step down from his role as the president of Bird?

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.

Announcement of two other positions

Ben Lu, a former chief financial officer of Archer Aviation, has joined Bird as its new CFO, replacing Yibo Ling in that position.

Announcement of two other positions

Bird engineering executive Lance Bradley has also been elevated to chief technology officer, replacing Justin Balthrop, the company's former product director.

Served as CEO and President

VanderZanden, the experienced startup entrepreneur, resigned from his position as president in June, less than three months ago.

Why did he step down?

After receiving a delisting warning from the New York Stock Exchange, Bird resigned from his position as president.

Had a rough go of it lately

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.

Step toward profitability

Bird presented the leadership reorganization as a step toward profitability.

Long-planned transition

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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