Lyft CEO, president step down as former Amazon executive takes over
San Francisco, March 28 (IANS) Ride-hailing company Lyft's co-founders, CEO Logan Green and president John Zimmer will transition from their full-time roles into non-executive roles, and former Amazon (NASDAQ: AMZN ) and Microsoft (NASDAQ: MSFT ) executive David Risher will become the new CEO, the company has announced.
Lyft's current chairman Sean Aggarwal will step down from his post but will remain on the board. He will serve as lead independent director.
Risher, a seasoned technology executive, will become Lyft CEO on April 17.
"Building Lyft with John over the last 16 years has been the adventure of a lifetime," said Green.
"When Risher left Amazon, Jeff Bezos publicly thanked him, vowing to 'build on the foundation you helped pour'. He is the absolute right person to build on our foundation," Green said in a statement late on Monday.
Lyft was founded in 2012 and is one of the largest transportation networks in the US and Canada.
"I am honoured to step into the CEO role at such an important moment in the company's history, and am prepared to take this business to new levels of success," Risher commented.
Risher also co-founded Worldreader, a non-profit organisation that has so far helped 21 million people read.
Aggarwal said that today, one in three people across the country has taken a Lyft and Lyft drivers have earned tens of billions of dollars.
"I look forward to serving alongside them as members of the Lyft board," he added.
There is no change to Lyft's previously announced revenue and the company expects to report its Q1 2023 results in early May.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or