Lyft co-founders Logan Green and John Zimmer said they are stepping down from their roles running the company, after recent signs showed the US ride-hailing service has lost more ground against arch-rival Uber.
David Risher, a Lyft board member and early Amazon employee, will take over from Green as chief executive on April 17, the company said. Zimmer will step down as president on June 30.
The management reshuffle comes two months after Lyft conceded that it would have to slash fares to try to stay competitive with Uber, denting its profit forecast for the latest quarter. Since the onset of the coronavirus pandemic it has steadily lost market share to Uber, which was able to lean on its food-delivery service and international diversification to cushion it more from a drop-off in ridership.