LYFT Stock Alert: What to Know as Lyft Announces CEO Change


  • Lyft (LYFT) stock is rising alongside news of a new CEO.
  • David Risher will take over as the company’s next CEO in April.
  • This comes as cofounders Logan Green and John Zimmer change to non-executive roles.
LYFT Stock - LYFT Stock Alert: What to Know as Lyft Announces CEO Change

Source: Tero Vesalainen /

Lyft (NASDAQ:LYFT) stock is a hot topic among traders on Tuesday after the ride-sharing company revealed a new CEO!

This comes as co-founder and CEO Logan Green switches to the non-executive role of board chairman. This will result in David Risher taking over as the next CEO of Lyft starting on April 17.

Risher is a veteran in the tech space and has held leadership positions at both Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). He joined Luyft’s board of directors back in July 2021 and was selected for the CEO role after a search for the company’s next leader.

Risher will have full leadership responsibilities at Luft when he takes on the CEO role. That’s due to co-founder and president John Zimmer switching to the non-executive vice chairman of the board role alongside Green.

What Wall Street Thinks About the CEO Change

Bloomberg Intelligence analyst Mandeep Singh said the following about Lyft getting a new CEO:

“The decision suggests that Lyft is in a tough competitive position, given operational challenges vs. larger rival Uber. Amid a risk of cash burn and market-share loss, we think Lyft may explore strategic options, including a sale.”

The new LYFT news has stock climbing 3% higher as some 12 million units change hands. For comparison, the company sees some 20 million shares trade on average each day.

Investors looking for more of the latest stock market news will want to stick around!

InvestorPlace is home to all of the hottest stock market news traders need to know about! A few examples of that include why shares of Alibaba (NYSE:BABA), Nio (NYSE:NIO), and WiSA Technologies (NASDAQ:WISA) stock are moving today. We’ve got all that news ready to go below!

More Tuesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC