Lyft’s cofounders, CEO Logan Green and president John Zimmer will step down from their day-to-day roles shortly, the company announced on Monday, March 27 2023.
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Logan Green is stepping down as CEO to serve as chair of the board. Zimmer will leave his position on June 30 to become vice chair of the Lyft board of directors.
Lyft’s current chairman Sean Aggarwal will step down from his post but will remain on the board, the company said.
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Former general manager at Microsoft and Amazon executive David Risher will take the helm for day-to-day operations. Risher has been a member of the Lyft board of directors since 2021. He will take over on April 17.
Lyft’s shares jumped about 5% in premarket trading before exchanges opened in New York on Tuesday, March 28 2023, after the announcement. They are down about 13% so far this year after plunging 74% in 2022.
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