Lyft co-founders step down as CEO and president, replaced by former Amazon executive

Lyft's current CEO and president, Logan Green and John Zimmer, are stepping down from their roles in mid-April. They will be replaced by former Amazon executive David Risher.

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.