san francisco The company’s founders, Logan Green and John Zimmer, are retiring from the management of the US ride-hailing service Lyft. Former Amazon and Microsoft executive David Risher is set to take over as CEO on April 17, the company announced on Monday after the US stock market closed. Green and Zimmer remain on the board of directors, which is superior to the executive board, but want to stay out of day-to-day business in the future.
Lyft has been struggling for some time and threatens to lose touch with larger rival Uber. In November, Lyft announced that it would lay off more than 680 employees – around 13 percent of the workforce – because of inflation and recession concerns.
The company has not yet made a profit for the year since it was founded in 2012. The stock has fallen nearly 75 percent in the past 12 months. The change of boss caused the price to rise by almost four percent in the after-hours trading.
More: Up to 15 million euros: Volkswagen raises the upper limit for Executive Board remuneration