Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (C, LEFT) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. Initially, the price of shares of the travel company was 72 dollars.

Mario Tama/Getty Images

ElevatorCo-founders CEO Logan Green and President John Zimmer will step down from their day-to-day roles by mid-April, the company announced Monday. David Risher, former retail executive Amazonwill take over as CEO of the ride-sharing company.

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 alone.

Richer joined Amazon in 1997 as its first vice president of product and store development. He was a senior lieutenant to Amazon founder and executive chairman Jeff Bezos and then served as senior vice president of marketing and merchandising before leaving the company in 2002.

— CNBC’s Annie Palmer, Laura Batchelor and Deirdre Bosa contributed to this report.

This is hot news. Check for updates.

Source by [author_name]

Previous articleDeepwater Mining in International Waters: Deadline Drives Rulemaking
Next articleAn Amazon sales consultant has admitted to bribing employees to help customers