Citi Bike a basket case? General manager exits

Ginsburgh leaves money-losing bicycle program to advise construction consultant Peter Lehrer
March 27, 2014 12:50PM

The head of New York City’s Citi Bike program resigned this week amid “financial and operational challenges” that could shut the bike-share business down.

Justin Ginsburgh, the general manager of an Alta subsidiary through which the program operates, is leaving his position to become an adviser to global construction guru Peter Lehrer, the New York Daily News reported. Ginsburgh, formerly chief of staff of the Economic Development Corporation, joined the group in 2013 to lead Citi Bike’s launch, according to the article.

Until the city can find a new permanent manager, Edward Inlow, the chief operations officer of Alta Bicycle Share and formerly general manager of Chicago bike-share system Divvy Bikes, will run the program.

Citi Bike has been hailed by the real estate industry as a desirable amenity for New Yorkers, according to previous reports. But the program’s revenue has recently slowed due to the cost of replacing equipment damaged by Hurricane Sandy and a harsh winter season that has frozen ridership, and needs tens of millions of dollars to keep it afloat, as previously reported. [NYDN]Angela Hunt