Jul 29, 2019 - Technology

Lyft shares sink on report of top exec departure

Photo by Hutton Supancic/Getty Images for SXSW.

Jon McNeill is stepping down as chief operating officer of ride-hail company Lyft, less than 18 months after joining from Tesla, according to CNBC.

Why it matters: No one was expecting such a high-level departure so soon after Lyft's IPO, which explains why the stock is down more than 2% on the news

Update: The company made the news official via a filing to the SEC.

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