Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Lyft founders to step down, former Amazon exec named new CEO By: FOX Business March 28, 2023 at 08:38 AM EDT Lyft's co-founders are transitioning away from their leadership positions later this year and the company announced David Risher, a former Amazon executive, would become CEO. Lyft announced Monday that its co-founders would transition from their leadership roles, with a former Amazon tech executive poised to pick up the reins at the popular ridesharing company. CEO Logan Green and President John Zimmer will take non-executive roles as chair and vice chair of the Lyft board starting April 17 and June 30, respectively. David Risher, who previously served as Amazon's first head of product and head of U.S. retail, will replace Green on April 17. He joined the Lyft board of directors in July 2021 and the San Francisco-based company said in a release that he will have "full leadership responsibilities for the company’s operations."CALIFORNIA COURT RULING ALLOWS UBER, LYFT TO CLASSIFY DRIVERS AS INDEPENDENT CONTRACTORSRisher was also formerly a general manager at Microsoft and co-founded Worldreader, a nonprofit that has helped 21 million people read."When the search committee asked me to consider this role, at first I was gobsmacked, but the more I thought about it, the more I realized that the competitive spirit I learned at Microsoft, the customer obsession I learned at Amazon, and the do-more-with-less lessons I learned leading Worldreader are exactly what Lyft needs right now," Risher said in a statement.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe company said Risher's appointment comes after a thorough search conducted by the board with the assistance of a leading executive search firm, also announcing that current board chair Sean Aggarwal would transition to the role of lead independent director.These changes come as the ride-hailing service struggles to recover from the COVID-19 pandemic.Lyft disclosed earlier in the year that it had suffered a $588 million loss for the final three months of last year, more than doubling from the same 2021 period.CLICK HERE TO READ MORE ON FOX BUSINESSThe Associated Press contributed to this report. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Lyft founders to step down, former Amazon exec named new CEO By: FOX Business March 28, 2023 at 08:38 AM EDT Lyft's co-founders are transitioning away from their leadership positions later this year and the company announced David Risher, a former Amazon executive, would become CEO. Lyft announced Monday that its co-founders would transition from their leadership roles, with a former Amazon tech executive poised to pick up the reins at the popular ridesharing company. CEO Logan Green and President John Zimmer will take non-executive roles as chair and vice chair of the Lyft board starting April 17 and June 30, respectively. David Risher, who previously served as Amazon's first head of product and head of U.S. retail, will replace Green on April 17. He joined the Lyft board of directors in July 2021 and the San Francisco-based company said in a release that he will have "full leadership responsibilities for the company’s operations."CALIFORNIA COURT RULING ALLOWS UBER, LYFT TO CLASSIFY DRIVERS AS INDEPENDENT CONTRACTORSRisher was also formerly a general manager at Microsoft and co-founded Worldreader, a nonprofit that has helped 21 million people read."When the search committee asked me to consider this role, at first I was gobsmacked, but the more I thought about it, the more I realized that the competitive spirit I learned at Microsoft, the customer obsession I learned at Amazon, and the do-more-with-less lessons I learned leading Worldreader are exactly what Lyft needs right now," Risher said in a statement.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe company said Risher's appointment comes after a thorough search conducted by the board with the assistance of a leading executive search firm, also announcing that current board chair Sean Aggarwal would transition to the role of lead independent director.These changes come as the ride-hailing service struggles to recover from the COVID-19 pandemic.Lyft disclosed earlier in the year that it had suffered a $588 million loss for the final three months of last year, more than doubling from the same 2021 period.CLICK HERE TO READ MORE ON FOX BUSINESSThe Associated Press contributed to this report.
