Getaround began the month by announcing an immediate workforce reduction that impacted approximately 30% of the company’s North American staff.

Now, the connected carsharing marketplace is closing the month by naming a new CEO, among other leadership changes.

In a move announced Wednesday and effective immediately, Getaround said its board of directors has appointed former Silvus Technologies CFO and former Getaround senior vice president of finance, risk and strategy Eduardo Iniguez as CEO.

Iniguez also joined the Getaround board of directors.

In connection with this change, Getaround also said Jason Mudrick was appointed chairperson of the board. Mudrick is founder and chief investment officer of Mudrick Capital, which led Getaround’s January financing.

Furthermore, outgoing Getaround CEO Sam Zaid will continue to serve as a member of the board of directors.

Management said Iniguez rejoins Getaround at a pivotal time, as the company focuses on right-sizing the business and streamlining operations in a push to create greater value for its shareholders, employees and customers.

Getaround said Iniguez as an accomplished executive in the technology and aerospace sectors, bringing more than 15 years of experience in strategic finance and corporate leadership to fund and scale emerging companies.

Prior to his first stint at Getaround, Iniguez was CEO and CFO of HyreCar and successfully managed the sale of its assets to Getaround last May.

Previous to that time, Iniguez was the vice president of corporate finance and accounting for AllClear, a private equity-backed aerospace company where he was responsible for 11 business unit P&Ls globally.

“I am thrilled to return to Getaround to help accelerate the company’s growth and path to profitability while reaching its incredible potential,” Iniguez said in a news release. “I am committed to our car owners and renters to be the carsharing platform of choice while we pave the way for long-term, sustainable growth.

“I look forward to rolling up my sleeves with the team to focus on execution and delivering results,” Iniguez said.

That approach appears to have impressed Mudrick, who said through the news release, “We are pleased to welcome Eduardo back to lead Getaround into its next phase of growth His track record of transformational leadership and passion for the carsharing space make him uniquely situated to take the helm as the company focuses on revenue growth and a path to profitability.

“I also want to thank Sam Zaid for his leadership and commitment to Getaround’s mission and people since the company’s inception,” Mudrick added.

And reflecting on the company situation, Zaid said, “As I step back from my day-to-day involvement, I am confident Eduardo will steer Getaround towards profitability and unlock continued success as an innovative, category-defining company in digital carsharing.”

The leadership changes at the top of Getaround revealed on Wednesday came more than three weeks after the company cut its workforce “to lengthen its cash runway and accelerate its path to profitability.”

At the time of the workforce move on Feb. 2, the company said it anticipated that the cost reduction program would result in savings of approximately $7 million on an annualized run-rate basis.

Getaround added that it expected to incur up to $1 million in restructuring costs in connection with the workforce reductions.

“Our focus on profitability and sustainable business growth necessitated this difficult workforce reduction program,” Zaid said in another news release detailing the cuts. “We’ve made significant progress over the past year, including steady improvements in revenue growth and unit economics, as well as in overall adjusted EBITDA profile and operating efficiency.

“We launched a new artificial intelligence model (Trustscore AI) to improve the safety and economics of our marketplace, deployed a powerful new global app that unifies and enables seamless trip coordination across the U.S. and Europe, and expanded to gig carsharing, enabling gig workers across the U.S. to rent cars to drive for services like Uber and DoorDash,” Zaid continued. “As the only truly global and digital carsharing marketplace, and as the leader in gig carsharing, we believe Getaround is increasingly well positioned for the future.”

“I want to thank all those teammates who contributed to the substantial progress Getaround has experienced. While we believe this restructuring plan is the right decision for the business, it does not diminish the challenge of letting talented colleagues go, or the gratitude we have for the dedication and professionalism of the team,” he said.