Lyft taps former Amazon exec Risher as new CEO after founders step down
The change in guard comes after a weak quarterly forecast worsened concerns that profits would get squeezed by price cuts undertaken to avoid being a distant second to Uber - which boasts better pricing power, a global presence and a food delivery business.
"Risher has his work cut out ahead as we believe all options are now on the table for Lyft including a potential sale with a new CEO in the seat," said Wedbush analyst Dan Ives. "As a member of the board, he knows both the challenges and opportunities ahead ... when David left Amazon, Jeff Bezos publicly thanked him, vowing to 'build on the foundation you helped pour'," Green said in a statement.
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