Date: March 28, 2023
Lyft's co-founders and current CEO and president, Logan Green and John Zimmer, are stepping down from their roles in mid-April and will serve as chair and vice-chair of Lyft's board, respectively.
David Risher, a former Amazon executive, and current Lyft board member, will take over as the new CEO. Risher, who joined Amazon in 1997 and helped transform the company into the "everything store," co-founded Worldreader, a nonprofit promoting children's literacy.
His appointment saw Lyft's stock rise nearly 6% in after-hours trading. Green and Zimmer will each receive $450,000 for their positions on the board and maintain their original award agreements on a pre-set timeline as long as they remain service providers to the company.
Despite their departure, Green and Zimmer still hold high-voting shares in this best ride sharing company, which will entitle them to 20 votes per share until both of them are deceased.
LinkedIn May Soon Launch Its Own Reels Format
LinkedIn, the world's biggest professional social networking platform, tests short-form video content to improve user engagement.
These 3 Google Maps Updates Will Make Summer Travel Breezy
Google Maps released a new set of updates yesterday that aims to make travel more convenient, comfortable, and advanced for its users.
Facebook Has Been Spying On Snapchat & Amazon For Years
Facebook, the social media platform owned by Meta, is facing new charges for breaching encrypted data and spying on apps like Snapchat and Amazon
Pavan Davuluri Becomes The New Head Of Microsoft Windows
In a major step to boost AI development, Microsoft has appointed Pavan Davuluri, an IIT Madras alumni, as Chief of Windows.