Lyft‘s cofounders, CEO Logan Green and president John Zimmer, will quickly step again from their day-to-day roles, the corporate introduced on Monday.
David Risher, a former retail government at Amazon, can be CEO of the ridesharing firm starting April 17, when Green will step apart to function chair of the board. Zimmer will transition out of his function on June 30 to function vice chair of the Lyft board. Lyft’s present chairman Sean Aggarwal will step down from his submit however will stay on the board, the corporate mentioned
Lyft shares rose round 5% after hours on the news.
Green and Zimmer based Lyft in 2012 and took the corporate public in 2019. Lyft shares have fallen greater than 70% within the final yr.
“I am honored 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 mentioned in a press release.
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the corporate’s preliminary public providing (IPO) on March 29, 2019 in Los Angeles, California. The trip hailing app firm’s shares had been initially priced at $72.
Mario Tama / Getty Images
Risher joined Amazon in 1997 as its first vp of product and retailer growth. He was a prime lieutenant of Amazon founder and government chairman Jeff Bezos, and went on to function senior vp of promoting and merchandising earlier than exiting the corporate in 2002. Risher has been on Lyft’s board since 2021.
— CNBC’s Annie Palmer, Laura Batchelor and Deirdre Bosa contributed to this report.
Source: www.cnbc.com