Setup News Ticker
Searching for 'Microsoft'. (Return)

MarketWatch MarketPulseMar 27, 2023
: Lyft stock jumps 5% as new CEO pushes co-founders from helm
Lyft Inc. LYFTis bringing in a new chief executive and removing its co-founders from running the ride-hailing company on a day-to-day basis, sending shares more than 5% higher in after-hours trading. Former Inc. AMZN and Microsoft Corp. MSFT executive David Risher will take over as CEO, replacing co-founder Logan Green, according to an announcement from the company. Green and Lyft's other active co-founder — John Zimmer, who had been serving as president — will remain on the company's board as chair and vice chair, but not actively participate in running the company. Lyft shares lost more than a third of their value in a single session in February after Green and Zimmer provided a forecast that missed expectations in what one analyst called "a debacle for the ages." In an interview with the Wall Street Journal, Risher — who has been on Lyft's board since 2021 — admitted that Lyft faces competitive issues, seemingly referencing Uber Technologies Inc. UBER He mentioned "a very aggressive—very aggressive—competitor," while adding, "I think being a strong No. 2 is a good place to be." Lyft stock has plummeted nearly 75% in the past 12 months, dropping 74.4% as the S&P 500 index SPX has declined 12.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

BankSilicon Valley Citizens Bankman-Fried officials
stockBuy Bank market Growth Today
ValleyBank Silicon Citizens Hearing Failed
SiliconBank Valley Citizens Hearing Failed
ChinaAlibaba Bankman-Fried charged Vows Jack
pricesseventh straight month Fell January
SVBbank Regulators Fed collapse Mismanagement
HereHow Stocks where About There
FedBank SVB Silicon Valley case
payApple Later million Launches Service

Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money Real Estate News Analysis Indicators
Enterprise Application News
Forbes Headlines
Forbes Social Media News - China, Economy & Trade - Financial Markets - Hedge Funds - Telecoms - US
Google Business News
Google Market News
HBS Working Knowledge
INSEAD Knowledge
International Tax Review
L.S. Starrett News
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money Updates: News Digest
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ World Markets
Yahoo Business
  • CEOExpress
  • c/o CommunityScape | 200 Anderson Avenue
    Rochester, NY 14607
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2023 CEOExpress Company LLC