Lyft's co-founders Logan Green and John Zimmer step down from the board, marking a pivotal leadership transition as David Risher takes over as CEO to steer the company into new growth avenues.

Target Company Overview

Lyft, a leading ride-hailing services provider, announced on Thursday that co-founders Logan Green and John Zimmer will step down from the company's board following the completion of a two-year transition plan. Green and Zimmer transitioned to the roles of chair and vice chair of Lyft's board in 2023, after resigning as CEO and president, respectively. This leadership change marks a significant milestone in Lyft's ongoing evolution, as David Risher, appointed as CEO, takes over the operational reins of the company.

Founded in 2012, Lyft has expanded its services across four continents and operates in nearly 1,000 cities. As co-founders, Green and Zimmer have played pivotal roles in shaping the company's identity and strategic direction. Following their departure, Sean Aggarwal will return as chair of Lyft's board, who previously held this position from 2019 to 2023, further ensuring continuity in leadership.

Industry Overview

The ride-hailing industry in the United States has undergone significant transformation, shaped by rapid technological advancements and changing consumer preferences. Notably, the competition has intensified with numerous players entering the marke