Lyft, which has been in operation for over a decade, is set to have a new CEO. On April 17th, David Risher, a former Amazon executive, will take over day-to-day operations from current CEO and co-founder Logan Green. Green will then become the chair of Lyft’s board of directors. This announcement is part of a larger executive reshuffle that will also see Lyft president and co-founder John Zimmer move to the company’s board, where he will serve as vice chair. Zimmer’s last day as president will be June 30th.
Green and Zimmer founded Lyft in 2012 and successfully took the company public in 2019. However, since its IPO, the value of Lyft’s stock has dropped significantly. After an initial high of $78.29 per share in 2019, the stock hit a record low of $9.60 per share earlier today. On February 9th, the day Lyft announced its Q4 2022 results, the stock shed 36 percent of its value after Green delivered what was…
2023-03-27 17:19:28
Article from www.engadget.com