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More than a decade old, Lyft is about to welcome a new CEO.Monday afternoon, the company Current CEO and co-founder Logan Green plans to hand over the day-to-day operations of Lyft to former Amazon executive David Risher on April 17. On the same day, Green said he will be chairman of Lyft’s board of directors. The announcement is part of a major executive turnover, with Lyft president and co-founder John Zimmer moving to the board and serving as vice chairman. Zimmer’s last day as president is June 30.
Green and Zimmer founded Lyft in 2012 and it’s been a success. However, since the IPO, Lyft’s stock price has fallen dramatically. After his first high of $78.29 per share in 2019, the stock hit a record low of $9.60 per share today. On February 9th, Lyft Result, Stockshed After reporting what is widely regarded as one of the worst earnings calls in recent memory, Green told investors it needed to spend more to stay competitive with Uber. . It’s safe to say that Lyft’s new CEO has the job. , due to the economic reasons for ridesharing, the road ahead is difficult. Still, Risher, who previously served as Amazon’s first head of product and head of US retail, is clearly qualified to turn Lyft around.
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