Virgin Hyperloop One has found a new CEO, and it’s someone who knows a thing or two about running both big and small transportation systems. Jay Walder, who recently left his position as CEO of bike-share operator Motivate, will become the new chief executive of the futuristic transportation company. Walder will replace Rob Lloyd, who served as CEO for three years. The company also selected a new chairperson to replace Virgin Group CEO Richard Branson, who stepped down last month. Sultan Ahmed bin Sulayem, group chairman and CEO of Dubai’s DP World, was named to that position. Walder is certainly an interesting choice with an impressive resume. He ran New York City’s Metropolitan Transportation Authority from 2009 to 2011, after helping to overhaul London’s aging mass transit system to global acclaim. His tenure at the MTA was a bit bumpier. He oversaw the installation of countdown clocks and other technological improvements, but also a series of unpopular fare cuts and its worst service cuts in a generation. From there, he went on to run the MTR Corporation, a transportation company based in Hong Kong. In 2014, he joined Motivate as CEO, and led the turnaround of the company’s largest bike-share system, Citi Bike in New York City. Launched in 2013, Citi Bike was popular with New Yorkers, yet it was in financial and operational trouble when Walder took over the following year. He re-energized the program with new software, new bicycles, and an expansion that eventually doubled the number of… [Read full story]
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