'Efficiency is in the air': Incoming Lyft CEO
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.