Scott Painter, the founder of SoftBank-backed car leasing startup, has resigned following last week’s layoffs and announcement of a planned restructuring, The Verge has learned.

SoftBank’s Adam Hieber is taking over as interim CEO.

Painter’s brother, who was Fair’s CFO, left the company last week.

“As I’ve said so often in the last few days - - what we do hasn’t changed; how we do it must change,” Painter said in an email to staff that was obtained by The Verge.

“I’m so incredibly proud of the company and the team we have built, and I’m not going anywhere.

I will continue to be Fair’s fiercest advocate, and I’m here to support the entire team, including the team of experts we’ve brought in to help sharpen Fair’s focus on sustainable growth.”

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