Thursday, October 24, 2019

Report: Fair Cuts Nearly Half Of Staff, Replaces CFO

Santa Monica-based Fair, the subscription vehicle service lead by startup veteran Scott Painter, is laying off 40 percent of its staff, according to reports, and also is replacing its CFO. The report says that current CFO Tyler Painter, the brother of CEO Scott Painter, is being replaced by Kirk Shryoc. It's unclear what the reasons for the steep cuts are; the company had announced a big $100M debt and equity investment from Ally Financial only two months ago. Fair allows customers to subscribe to gain access to used cars, and does not require them to sign a long term lease.

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