June 17, 2024

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Lyft CEO, President Stepping Down, and Hiring Former Amazon Executive Risher as CEO

Lyft CEO, President Stepping Down, and Hiring Former Amazon Executive Risher as CEO
  • Lyft co-founders Logan Green and John Zimmer will step back from their day-to-day roles as CEO and President, respectively.
  • Former Amazon CEO David Resher will take over the top job at the ride-hailing company.

Confetti takes place as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) rings the Nasdaq opening bell to celebrate the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. Shares of the migration app company were initially priced at $72.

Mario Tama/Getty Images

Lyft founders, CEO Logan Green and president John Zimmer, will soon step back from their day-to-day roles, company announce on monday.

David Risher, a former Amazon retail executive, will be the ridesharing company’s CEO starting April 17, when Green steps down as chairman of the board. Zimmer will transition from his position on June 30 to become Lyft Vice Chairman. The company said that Lyft’s current chairman, Shaun Aggarwal, will step down from his position but will remain on the board

Lyft shares rose about 5% hours after the news.

Green and Zimmer founded Lyft in 2012 and took the company public in 2019. Lyft shares have fallen more than 70% in the past year.

“I am honored to take on the role of CEO at such an important moment in the company’s history, and I am ready to take this business to new levels of success,” Risher said in a statement.

Risher joined Amazon in 1997 as Senior Vice President of Product and Store Development. He was a senior lieutenant to Amazon founder and CEO Jeff Bezos, and went on to serve as senior vice president of marketing and merchandising before exiting the company in 2002. Resher has been on Lyft’s board of directors since 2021.

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– CNBC’s Annie Palmer, Laura Batchelor and Deirdre Bossa Contribute to this report.