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BIXI CEO to step down

The head of the BIXI bike-rental service has announced his plans to step down.

Roger Plamondon announced his decision at a company board meeting on Thursday.

A spokesman for Public Bike System Co., which overseas Montreal-based BIXI, says Plamondon’s departure won’t impact bike services.

Michel Philibert says Quebec’s order to the city of Montreal to sell off BIXI’s profitable international sales arm was an important factor in Plamondon’s departure.

He also says Plamondon, who was involved with BIXI for five years, will stay on for a few weeks to get his files in order before leaving.

Philibert adds that it will still be “business as usual” at the company, despite Plamondon’s resignation.

Earlier this year, Plamondon had said Public Bike System Co. was cash-strapped and its suppliers were waiting to get paid. He had said the financial problems were being caused by a dispute over a $108-million loan bailout.

The name BIXI is a combination of the words bicycle and taxi. Riders can grab a BIXI bike at one station and drop it off at another, paying for their rides on a daily, monthly or yearly basis.

The company’s bike rental service began in Montreal in 2009 before expanding to Toronto and Ottawa. It also has international operations in New York and London, England.