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Micro-Mobility Group Bird Announces new Interim CEO; Warns Over Funding
Bird Global Inc.has announced the appointment of Michael Washinushi as interim Chief Executive Officer (CEO), effective immediately. Washinushi will succeed Shane Torchiana and continue to oversee the finance organisation until a CEO replacement is appointed.
This move follows a warning that the company 'had $6.8 million in unrestricted cash and cash equivalents which, without additional funding, will not be sufficient to meet the Company’s obligations within the next 12 months'.
Washinushi joined Bird in January 2023, serving as Chief Financial Officer (CFO) and leading the company through various milestones towards its goal of being a cash generative business.
Prior to joining Bird, he was the CFO for seven years at high growth technology company FreshBooks. Previous to that, he was the CFO of Sirius XM Canada for more than a decade.
John Bitove, Chair of the Board of Directors at Bird, says: "On behalf of the board, we extend our gratitude to Shane for his leadership during this transitional time for the company. Michael is stepping in with the full support and confidence of the board. We are committed to Bird becoming a profitable, global e-scooter leader. We have had great success growing share and profits for Bird in Canada and we intend to apply those learnings to Bird globally."
“I’d like to thank Shane for his dedication and partnership since I joined the company and wish him well on all his future endeavors,” adds Washinushi. “When I first joined Bird as CFO, I saw the enormous opportunity and ability for the company to change the landscape of transportation for the better. I remain equally optimistic and am confident that our continued focus on cost discipline, asset efficiency, and a rightsized footprint will leave us well positioned to become a self-sustaining company for the long-term.”
Bird’s mobility solutions are available in more than 350 cities, primarily across the United States, Canada, Europe, the Middle East, and Australia.