{"id":72563,"date":"2023-10-14T10:05:22","date_gmt":"2023-10-14T14:05:22","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/lyft-says-two-board-members-have-resigned\/"},"modified":"2023-10-14T10:05:25","modified_gmt":"2023-10-14T14:05:25","slug":"lyft-says-two-board-members-have-resigned","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72563","title":{"rendered":"Lyft says two board members have resigned"},"content":{"rendered":"
\n

Ride-hailing platform Lyft Inc. on Friday said that Mary Agnes Wilderotter and Valerie Jarrett had resigned from the company\u2019s board, due to what it described as \u201ctheir other professional responsibilities.\u201d <\/p>\n

Lyft
\n LYFT,
\n -5.53%<\/bg-quote>
\n said in a filing that the two notified the company of their resignations on Thursday, adding that \u201cneither Ms. Wilderotter nor Ms. Jarrett resigned from the Board due to any disagreement with the Company on any matter related to the Company\u2019s operations, policies or practices.\u201d <\/p>\n

\n

In connection with the departures, Lyft\u2019s board appointed Prashant Aggarwal as chair of the nominating and corporate governance committee, and appointed Janey Whiteside as a member of that committee. The board has also lowered the number of authorized directors to eight from 10.<\/p>\n

Shares of Lyft were up 0.1% in after-hours trading on Friday. The company, when reached, declined to offer any extra information beyond what was in the filing.<\/p>\n

The Securities and Exchange commission last month said that Lyft agreed to pay a $10 million fine to resolve allegations from the agency that it failed to disclose that one of its former board members was paid to arrange a pre-IPO share sale between billionaire investors Carl Icahn and George Soros. <\/p>\n

Earlier this year, Lyft brought in a new chief executive, David Risher, a onetime board member who replaced co-founder Logan Green. The company, in announcing the move in March, said that Green and co-founder John Zimmer would step back from actively running the company, while staying on Lyft\u2019s board. Even as ride-hailing recovers from the pandemic, and Lyft tries to compete on pricing, investors have been kinder to shares of Lyft\u2019s bigger rival, Uber Technologies Inc.
\n UBER,
\n -5.38%<\/bg-quote>\n <\/p>\n

In a statement on Friday, both board members praised the company. <\/p>\n

Wilderotter called her time on the Lyft board \u201cfulfilling\u201d and said she had \u201cfull confidence that the team is on the right track.\u201d Jarrett said: \u201cI\u2019m proud to have been part of a company that\u2019s already made such a positive impact and I\u2019ll be rooting for the company from the backseat of my Lyft.\u201d <\/p>\n

Risher, in that statement, said Wilderotter\u2019s and Jarrett\u2019s \u201cstrategic insights and relentless focus to do what\u2019s right for riders and drivers have helped position Lyft well for the future. Moving forward, I\u2019m excited about the Board\u2019s ongoing succession planning and focus on ensuring that we have the right skills, experience and diversity around the table.\u201d<\/p>\n

Shares of Lyft have fallen 9% so far this year. By comparison, the S&P 500 Index
\n SPX
\n is up 13.1% over that period. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ride-hailing platform Lyft Inc. on Friday said that Mary Agnes Wilderotter and Valerie Jarrett had resigned from the company\u2019s board, due to what it described as \u201ctheir other professional responsibilities.\u201d Lyft LYFT, -5.53% said in a filing that the two notified the company of their resignations on Thursday, adding that \u201cneither Ms. Wilderotter nor Ms. […]<\/p>\n","protected":false},"author":1,"featured_media":72564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-72563","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLyft says two board members have resigned | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Ride-hailing platform Lyft Inc. on Friday said that Mary Agnes Wilderotter and Valerie Jarrett had resigned from 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