Ride-hailing company Lyft's co-founders, CEO Logan Green and president John Zimmer will transition from their full-time roles into non-executive roles, and former Amazon and Microsoft executive David Risher will become the new CEO, the company has announced.
Chairman Sean Aggarwal to step down
Lyft's current chairman Sean Aggarwal will also step down from his post but will remain on the board. He will serve as lead independent director.
Risher, a seasoned technology executive, will become Lyft CEO on April 17.
"Building Lyft with John over the last 16 years has been the adventure of a lifetime," said Green.
When Risher left Amazon
"When Risher left Amazon, Jeff Bezos publicly thanked him, vowing to 'build on the foundation you helped pour'. He is the absolute right person to build on our foundation," Green said in a statement late on Monday.
Lyft was founded in 2012 and is one of the largest transportation networks in the US and Canada.
David Risher comments on his new role
"I am honoured to step into the CEO role at such an important moment in the company's history, and am prepared to take this business to new levels of success," Risher commented.
In addition, Worldreader, a nonprofit organisation that has so far assisted 21 million individuals in reading, was co-founded by Risher.
According to Aggarwal, one in three Americans has used a Lyft service recently, and its drivers have made tens of billions of dollars.
"I look forward to serving alongside them as members of the Lyft board," he added.
There is no change to Lyft's previously announced revenue and the company expects to report its Q1 2023 results in early May.
With inputs from Agencies.
