Bixi losing millions
By ANDREW MCINTOSH QMI AGENCY
Posted 20 hours ago
MONTREAL — The company operating the popular Bixi bike-sharing service in Toronto and Montreal is losing millions of dollars. Its board members also have been steering to the exits, even as they deny there is a rift between Bixi and Montreal and Quebec City officials.
Bixi’s operating company, la Societe de Velo en Libre-Service, has lost five key members from its fledgling board of directors since news of its financial troubles emerged this spring.
All of them quit before Bixi boss Roger Plamandon publicly announced his own impending resignation as president sometime in 2012.
The departures — without any public announcement — have occurred since late April, according to documents filed with the province’s corporate registry .
The exodus began just before Montreal city council approved a controversial $108-million Bixi bailout package in May.
One director left before the financial rescue. Three more quit not long after the bailout. The fifth director left in September.
Bixi spokesman Michel Philibert confirmed the directors’ departures, but denied they were forced out by politicians to improve oversight, management and financial stablility of Bixi operations.
“People left for personal reasons, others for professional reasons,” Philibert said.
Bixi board members are unpaid volunteers, he added.
Last out was Steven Bradley, a Home Depot manager who lives in suburban L’Assomption, Que. Bradley quit Sept. 30. Bradley said there were several small changes to how the board works since spring.