NEW YORK (AP) -- The general manager of the city's nearly year-old bike-sharing program has resigned. The Daily News says Justin Ginsburgh stepped down less than a week after the program reported facing financial problems.

Ginsburgh joined the Portland, Ore.-based Alta Bike Share company that runs the Citi Bike program through a subsidiary last year. Its president is Mia Birk, the former head of the City of Portland's bike programs.

New York Times: Citi Bike system successful, but wobbly from start

New York Magazine:Citi Bike maker files for bankruptcy

Atlantic Magazine: Bixi files for bankruptcy but Bike Share goes on

A company spokeswoman told the News that Ginsburgh was departing to join Lehrer, LLC, which manages large scale construction projects. She said Ginsburgh will be temporarily replaced by Eddie Inlow, the COO of Alta Bicycle Share and general manager of Divvy Bikes in Chicago.

Read the Alta Bike Share statement

Ginsburgh and the city's transportation department didn't respond to requests for comment.

Last week, the privately funded program said it needed to raise tens of millions of dollars if it was to survive.

Read or Share this story: