Lyft announced on Monday that the company’s co-founders, CEO Logan Green and president John Zimmer, would step down from their executive management positions effective April 17.
Green and Zimmer will transition to the roles of chair and vice chair, respectively, of the company’s board effective June 30.
Former Amazon head of U.S. retail David Risher will succeed Green as CEO on April 17.
- Lyft’s current board chair Sean Aggarwal will step down from the role but remain on the board.
- Green and Zimmer founded Lyft in 2012 and took the company public in 2019.
- Following news of the changes, Lyft shares rose more than 4% during extended trading on Monday.
- Lyft shares have declined more than 70% in the last year.
