|Day's range||6.11 - 6.11|
A management shakeup at Lyft (LYFT) is reigniting the battle for the rideshare market. Lyft's cofounders, Logan Green and John Zimmer are set to step down from their day-to-day roles as CEO and president next month, taking the helm in their stead is former Amazon (AMZN) executive David Risher. In an interview with Yahoo Finance's Brian Sozzi and Rachelle Akuffo, Risher said the company's top priority is providing a great experience for its customers. To do this, Risher says Lyft has to get the basics right, which for riders means an on-time pickup, pricing in line with the competition and getting where they need to go. When asked about opportunities for cost cuts Risher said, "Efficiency is also in the air... I'm very, very comfortable with the idea that you can sort of get twice the team, you know, without twice the people." Key video moments: 00:00:27 David Risher's priorities for Lyft 00:01:45 Competition with Uber 00:06:40 The possibility of a Lyft sale Watch our full conversation with David Risher here.
Lyft's incoming CEO reveals some of his early thoughts on where he would like to take the business.
Shares of Lyft (NASDAQ: LYFT) were on the move today after the ride-sharing operator announced a change in management. It said that the two co-founders would relinquish their roles in day-to-day operations and David Risher, a former Amazon and Microsoft executive, would become the next CEO. It was down 4% by 1:46 p.m. ET after Risher said the company wasn't interested in selling itself.