Lyft struggling, CEO change may not be enough, Barron’s says

Lyft (LYFT) has been a terrible stock, losing almost 90% of its value since its March 2019 initial public offering, Eric J. Savitz writes in this week’s edition of Barron’s. While the ride-sharing company’s financial results have rebounded from a pandemic-era swoon, it continues to lose ground to rival Uber (UBER). Attempting to stanch the bleeding, Lyft’s board this past week made a dramatic management change, with CEO Logan Green and President John Zimmer stepping down in the weeks ahead and David Risher replacing them, the author notes. Risher has impressive credentials but hasn’t played a significant role at a for-profit business in more than two decades. Reference Link