Lyft's CEO on Leading With Purpose [Yahoo! Finance]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: Yahoo! Finance
Its stock price was approaching an all-time low, down nearly 90% from its IPO high of 2019. One of Risher's first moves was to cut staff by 26%, affecting hundreds of employees. Risher, a one time Lyft board member and former Amazon executive, is the first non-founder to lead Lyft. Still, he's put his own stamp on the company, cutting prices for riders, introducing Women+ Connect, a feature that lets women and nonbinary riders choose drivers who are also women or nonbinary, and launching a guarantee that drivers would earn 70% of rider payments every week after external fees like tolls and insurance. He's also not afraid to roll up his sleeves and occasionally drives for Lyft to see what contractors experience. Since he took over as CEO on April 17, 2023, the company's share price has risen and analysts are speaking more optimistically about the company. Still, Risher has a tough road ahead. Lyft says it has around 30% of the rideshare marketplace, and does not offer food delivery
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