(Reuters) – Ride hailing agency Lyft Inc on Thursday named Amazon.com Inc’s government Elaine Paul as its new chief monetary officer, changing Brian Roberts who’s stepping down after seven years within the position.
Paul will take up the brand new place from Jan. 3. She is at the moment the CFO and vice chairman of Amazon Studios, the movie and internet collection producing unit of Amazon.
The transition comes at a time when Lyft and rival Uber try to chop prices to make up for a decline in ridership and an absence of drivers because of the pandemic.
“There can be no spoilers right now, however I’ve discovered an thrilling frontier alternative with mission-driven founders targeted on serving their group,” Roberts stated in a LinkedIn put up.
Lyft stated Roberts’ departure shouldn’t be the results of any dispute or disagreement with the corporate or its board.
“Over the previous seven years, Brian has made an enormous contribution to Lyft. With his assist and management, Lyft went public and reached adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization) profitability — two vital milestones,” stated Logan Green, Lyft’s co-founder and chief government officer.
Before becoming a member of Amazon, Paul, 54, served as the CFO of Hulu for six years, previous to which she labored at Walt Disney Co for 19 years in senior finance, technique and enterprise improvement roles.
Roberts will stay as an adviser till June 2022 to help with the transition, Lyft stated.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Amy Caren Daniel)
