Thursday, February 28, 2019

LYNX CEO steps down amid financial struggles at Central Florida bus service

Posted By on Thu, Feb 28, 2019 at 4:56 PM

click to enlarge PHOTO BY JOEY ROULETTE
  • Photo by Joey Roulette
LYNX CEO Edward Johnson has resigned as head of the public transportation agency following a series of investigative reports by WFTV 9 on the bus service's financial struggles.

WFTV reports LYNX's financial handlings came under suspicion in October when the agency started to use its reserve funds for that year. The report found that LYNX's reserve money had been virtually used up in attempts to make up for issues with ridership and company raises, which could potentially lead to $21 million in debt for the following year.

The decision was reached on Thursday, Feb. 28, in a LYNX board meeting. The board includes mayors of Orlando and Orange County, along with commissioners of Osceola and Seminole counties.

The Orlando Sentinel reports that an interim CEO has been chosen by the board and will serve for up to three months to give time to find a longer-serving interim CEO.

Johnson will be receiving three months of severance pay, according to WFTV. His current annual salary is $195,000.

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