Lyft Inc said founders Logan Green and John Zimmer would step down as CEO and president, with board member David Risher taking on the top role as the ride-hailing firm struggles with intense competition.
said founders Logan Green and John Zimmer would step down as CEO and president, with board member David Risher taking on the top role as the ride-hailing firm struggles with intense competition.
Risher, a former Amazon and Microsoft executive, will be tasked with overcoming cost challenges and finding new strategies to attract drivers to the platform as demand rises with more people returning to offices and travel resuming. A member of the Lyft board of directors since July 2021, Risher will become CEO on April 17, while Green and Zimmer will continue to serve as chair and vice chair of the board.
Lyft, which was founded in 2012, is yet to report an annual profit but has managed to reduce losses through cost cuts and other initiatives over the years.
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