The executive who launched Citi Bike is stepping down as the popular program desperately tries to pedal away from a financial disaster.
Justin Ginsburgh, the general manager of NYC Bike Share, will leave in the next few weeks for a job as adviser to Peter Lehrer, who heads a construction consultancy firm with clients that include the Metropolitan Museum of Art and Columbia University.
Eddie Inlow, the chief operating officer at parent company Alta Bicycle Share, will take over Ginsburgh’s duties while NYC Bike Share looks nationally for a new big wheel, according to its spokeswoman.
Inlow previously ran bike sharing in Chicago.
An NYC Bike Share spokeswoman declined to say what the job pays.
As of the end of February, Citi Bike, which started up at the end of May, had earned $28.1 million in total revenue.
But it never released its costs, and Alta has asked for a city subsidy, sources said.
On Friday, Mayor de Blasio said, “At this point, city budget money is not on the table.”
Alta suggested raising the annual membership fee of $95, but a City Hall source said that can’t happen until the company fixes its operations.
Station and dock malfunctions have been a major headache for riders. In February, more than 750 malfunctions were reported.
The program has also faced lawsuits over station locations, as well as the challenge of moving hundreds of bikes a day to meet demand around the city.
The brutal winter also took a toll. There were only about 312,000 rides in January, compared with more than 950,000 in July.
More than 97 percent of the riders who braved the cold and snow in January were annual members.
Daily and weekly riders were much less likely to hit the wintry streets. The program makes more money off those bikers, who pay $9.95 for 24 hours and $25 for a week.
Despite its woes, Citi Bike reached its 100,000th member and 7 millionth ride in the past few days.
“We remain committed to working with the system’s operator to address its financial and operational issues to ensure it meets the needs of its riders going forward,” said DOT commissioner Polly Trottenberg.