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 journey hailing app firm’s shares have been initially priced at $72.
Mario Tama / Getty Photos
Lyft‘s cofounders, CEO Logan Inexperienced and president John Zimmer, will step again from their day-to-day roles by mid-April, the corporate introduced on Monday. David Risher, a former retail govt at Amazon, will assume the CEO place on the ridesharing firm.
Inexperienced and Zimmer based Lyft in 2012 and took the corporate public in 2019. Lyft shares have fallen greater than 70% within the final 12 months alone.
Risher joined Amazon in 1997 as its first vp of product and retailer growth. He was a high lieutenant of Amazon founder and govt chairman Jeff Bezos, and went on to function senior vp of promoting and merchandising earlier than exiting the corporate in 2002.
— CNBC’s Annie Palmer, Laura Batchelor and Deirdre Bosa contributed to this report.
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