By Sabela Ojea

Lyft Inc. on Thursday said it named Kristin Sverchek as president of the company, instead of Chief Executive David Risher.

The ride-hailing company said in a U.S. Securities and Exchange Commission filing that the board determined that it would be beneficial to the group if Mr. Risher focuses on his CEO responsibilities.

The appointment of Ms. Sverchek, who is currently Lyft's president of business affairs, will be effective on July 1, it added.

She will become John Zimmer's successor, who will become a director on June 30.

Lyft's executive changes come after the company said earlier in the day that it is cutting more than 1,000 additional jobs in a new round of layoffs, affecting 26% of their employees.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 27, 2023 16:51 ET (20:51 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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