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Lime shuffles executive lineup, swapping co-founders as CEO

Brad Bao is taking over as CEO of the scooter company for fellow co-founder Toby Sun.

Brad Bao (left) is taking the reins from fellow co-founder Toby Sun.

Scooter company Lime announced a revamped executive lineup on Thursday, with co-founder Brad Bao taking over as CEO for Toby Sun.

Bao, the company's executive chairman, co-founded San Mateo, California-based Lime with Sun in 2016. Sun will stay with the company, turning his attention to research and development.

"Lime's structure allows for our executive leadership to be multipurpose and we are making a few changes to our team today to seize the opportunity ahead of us," Lime said in a statement. "Brad will take on the role of CEO and focus on operating the Lime of today, while Toby will look to what's next and focus on building the Lime of tomorrow."

Rounding out the executive shuffle was the promotion of Joe Kraus, Lime's chief operating officer, to president.