/Bolts chief people officer is leaving the company after less than 5 months on the job

Bolts chief people officer is leaving the company after less than 5 months on the job

  • Bolt’s chief people officer Jennifer Christie will leave the company after less than 5 months.
  • Christie helped develop and implement Bolt’s signature four-day work week program.
  • Leaked Slack messages reveal Christie’s last day at Bolt will be May 27.

The shakeups at San Francisco fintech startup Bolt continue. An executive who helped develop its signature four-day workweek policy recently announced plans to depart the company after just four and a half months on the job, Insider has learned.

Jennifer Christie, the company’s chief people officer, is leaving the company “to pursue another opportunity more aligned with her career aspirations,” according to a


Slack

message sent by Bolt CEO Maju Kuruvilla on May 18 that was reviewed by Insider.

Adam McBain, who is currently Bolt’s vice president of people operations, will replace Christie after she departs the company on May 27.¬†

During her time at Bolt, Christie helped oversee the company’s shift to a four-day workweek, which began officially in January after a three-month pilot program late last year.

Insider previously reported Christie had been “involved in company conversations about the four-day workweek since October” of 2021. She officially joined the company on January 3 this year after three years as Twitter’s chief HR officer.

Bolt confirmed Christie’s departure to Insider via email.

Bolt's chief people officer Jennifer Christie

Jennifer Christie, Bolt’s chief people officer, will leave the company after less than five months on the job, Insider has learned.

Bolt


Bolt has touted its Monday to Thursday workweek as both a benefit to employees and a signal of its willingness to challenge longstanding norms. Christie told Insider in February that 94% of employees and 91% of managers were supportive of the decision to permanently adopt the four-day work week following the trial period. Employees said that the four-day week forced them to prioritize their most important tasks and that reducing unnecessary meetings allowed them more time to focus and work uninterrupted.

The company launched Conscious.org in mid-2021, a site where the startup shared its “Conscious Culture Playbook” with the aim of helping other companies replicate Bolt’s corporate culture and initiatives.

Christie’s departure caps off several months of internal changes at the company. In late January, Bolt’s founder Ryan Breslow announced that he would step down as CEO following a Twitter thread where Breslow criticized the startup incubator Y Combinator and payments competitor Stripe as “mob bosses” that were intent on squeezing competitors out of Silicon Valley.

Breslow is now the company’s executive chairman and Kuruvilla, who was previously Bolt’s chief operating officer, took over as CEO.

Bolt is also currently facing a lawsuit from one of its largest customers, Authentic Brands Group, the parent company of brands including Forever 21, Nautica, Brooks Brothers, and Reebok. In the lawsuit, ABG alleges that issues with Bolt’s technology and delays on promised features caused the retail giant to lose money.

Bolt’s troubles continued as recently as this month, following a report from The New York Times claiming that Bolt often stretched the truth about the capabilities of its technology and misrepresented potential clients as confirmed Bolt sellers before partnerships had been finalized.

The company’s future may be even more uncertain now: in the same piece, the New York Times reported that Bolt implemented a three-month hiring freeze in April and has considered raising more funds.

Leaked secondary market data reviewed by Insider revealed that Bolt shares are selling at a 28% discount to the $11.1 billion valuation it announced in January. One trader told Insider that Bolt shares have been discounted by around 50% by some sellers.

Are you a current or former Bolt employee with a tip about the company? Contact this reporter via email at agehan@insider.com, via Twitter direct message @anngehan, or via encrypted message on Signal at +1 (646) 374-8461 using a non-work device.

Original Source