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Lyft Names Former Amazon Exec as Its New CEO

11 months ago

Ride-sharing firm Lyft has appointed David Risher, a former Amazon and Microsoft senior exec, as its new CEO.

Lyft’s co-founders Logan Green and John Zimmer are stepping down from their respective roles as CEO and president, and moving into non-executive roles, the company revealed on Tuesday.

Risher was employee number 37 at Amazon, and was the retailing giant’s first head of product and head of U.S. retail. He was also a general manager at Microsoft. He has been a member of Lyft’s board of directors since July 2021.

Lyft’s business division recently reported that managed bookings have grown 60 percent year-over-year, following the return of large events and conferences. For the 2022 fourth quarter it posted revenue of $1.2 billion, 21 percent up on the same quarter in 2021.

Ride-sharing and car-pooling are expected to increase this year after the pandemic all but wiped out the concept. Now as more companies look to cut carbon emissions, car-pooling is seen as effective way to travel more sustainably. Rival BlaBlaCar last month announced it was buying Klaxit to further expand.

“Logan and I were told we were crazy to think people would share a ride in another person’s car,” said Lyft’s Zimmer. “Over a decade later, Lyft is creating economic opportunity, building a sustainable future, and helping people make meaningful connections — with the support of millions of riders and drivers. I can’t wait for what’s next, and look forward to working with our deeply-capable successor, David, to improve people’s lives with the world’s best transportation.”

Meanwhile, Hertz’s chief financial officer effective Kenny Cheung is leaving the company. He will be replaced by chief accounting officer Alexandra Brooks on an interim basis, the company said on Tuesday.