Yahoo Finance's Brian Sozzi discusses Lyft appointing Amazon Studios' Elaine Paul as its new CEO.
Paul will take up the new position from Jan. 3. The transition comes at a time when Lyft and rival Uber are attempting to cut costs to make up for a decline in ridership and a lack of drivers due to the pandemic. Lyft said Roberts' departure is not the result of any dispute or disagreement with the company or its board.
SAN FRANCISCO, December 02, 2021--Lyft (Nasdaq:LYFT) today announced that Elaine Paul has been named chief financial officer, effective January 3, 2022. Paul replaces Brian Roberts, who is stepping down but will remain an advisor until June 2022 to assist with the transition.