Lyft’s cofounders, CEO Logan Inexperienced and president John Zimmer, will quickly step again from their daily roles, the corporate introduced on Monday.
David Risher, a former retail government at Amazon, will likely be CEO of the ridesharing corporate starting April 17, when Inexperienced 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 put up however will stay at the board, the corporate stated
Lyft stocks rose round 5% after hours at the information.
Inexperienced and Zimmer based Lyft in 2012 and took the corporate public in 2019. Lyft stocks have fallen greater than 70% within the closing 12 months.
“I’m venerated to step into the CEO function at such a very powerful second within the corporate’s historical past, and am ready to take this trade to new ranges of luck,” Risher stated in a observation.
Confetti falls as Lyft CEO Logan Inexperienced (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 experience hailing app corporate’s stocks had been to begin with priced at $72.
Mario Tama / Getty Pictures
Risher joined Amazon in 1997 as its first vp of product and retailer building. He was once a most sensible lieutenant of Amazon founder and government chairman Jeff Bezos, and went directly to function senior vp of promoting and vending sooner 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 record.