Ride-hailing company Lyft Inc on Tuesday appointed Erin Brewer as its new Chief Financial Officer (CFO). She will replace Elaine Paul, who has served as Lyft's CFO since January 2022.

Paul's departure is set for May 19, while Brewer is expected to assume her new responsibilities on July 10, as per Reuters. In the interim, Lisa Blackwood-Kapral, the Chief Accounting Officer at Lyft, will serve as the finance chief.

Brewer's appointment is crucial for Lyft as it seeks to strengthen its financial position and navigate a competitive market. The company has experienced significant challenges recently, including intense price competition with its larger rival, Uber.

Brewer brings a wealth of financial expertise to her new role. She had served as the Managing Director of enterprise finance at Charles Schwab &amp; Co, where she played a crucial role in financial strategy and decision-making. She was also the head of strategy and finance at the software company Atlassian.&nbsp;

Lyft&nbsp;hits the reset button

The appointment of a new CFO is part of a broader restructuring effort at Lyft.&nbsp;

The company appointed David Risher as its new CEO in March, replacing co-founder Logan Green. A former Amazon executive, Risher wasted no time implementing changes, including a significant reduction in the company's workforce. Over 1,000 jobs were cut, representing 26 percent of its corporate headcount, along with a freeze on hiring for an additional 250 roles.&nbsp;

Lyft&nbsp;stocks have significantly declined in value since the company's&nbsp;listing&nbsp;in 2019.

However, the company remains optimistic about its long-term prospects.&nbsp;In a recent interview with CNBC, Risher hoped to create&nbsp;an outstanding customer experience that would make people no longer compare Lyft to Uber but instead recognise the unique value Lyft offers.

Despite the fierce price war, Lyft's survival is regarded as essential for the ride-hailing industry's overall health and vitality.&nbsp;

In addition to providing healthy competition to Uber, Lyft plays a vital role in offering consumers a valuable choice in the market. As the mobility market gains momentum, Lyft's resurgence becomes crucial in reviving the industry and putting the wheels of progress back in motion.

(Inputs from Reuters)

Ride-hailing company Lyft Inc on Tuesday appointed Erin Brewer as its new Chief Financial Officer (CFO). She will replace Elaine Paul, who has served as Lyft's CFO since January 2022.

Ride-hailing company Lyft Inc on Tuesday appointed Erin Brewer as its new Chief Financial Officer (CFO). She will replace Elaine Paul, who has served as Lyft's CFO since January 2022. Paul's departure is set for May 19, while Brewer is expected to assume her new responsibilities on July 10, as per Reuters. In the interim, Lisa Blackwood-Kapral, the Chief Accounting Officer at Lyft, will serve as the finance chief. Brewer's appointment is crucial for Lyft as it seeks to strengthen its financial position and navigate a competitive market. The company has experienced significant challenges recently, including intense price competition with its larger rival, Uber. Brewer brings a wealth of financial expertise to her new role. She had served as the Managing Director of enterprise finance at Charles Schwab & Co, where she played a crucial role in financial strategy and decision-making. She was also the head of strategy and finance at the software company Atlassian. Lyft hits the reset button The appointment of a new CFO is part of a broader restructuring effort at Lyft. The company appointed David Risher as its new CEO in March, replacing co-founder Logan Green. A former Amazon executive, Risher wasted no time implementing changes, including a significant reduction in the company's workforce. Over 1,000 jobs were cut, representing 26 percent of its corporate headcount, along with a freeze on hiring for an additional 250 roles. Lyft stocks have significantly declined in value since the company's listing in 2019. However, the company remains optimistic about its long-term prospects. In a recent interview with CNBC, Risher hoped to create an outstanding customer experience that would make people no longer compare Lyft to Uber but instead recognise the unique value Lyft offers. Despite the fierce price war, Lyft's survival is regarded as essential for the ride-hailing industry's overall health and vitality. In addition to providing healthy competition to Uber, Lyft plays a vital role in offering consumers a valuable choice in the market. As the mobility market gains momentum, Lyft's resurgence becomes crucial in reviving the industry and putting the wheels of progress back in motion. (Inputs from Reuters)

Lyft appoints Erin Brewer as CFO as ride-hailing company hits reset button

Ride-hailing firm Uber has laid off 600 employees in India, about 25% of its total workforce in the country. The development comes after Uber's competitor in India, Ola had also announced that it was laying off over 1,400 employees, around 35% of its total workforce in the country.

Ride-hailing firm Uber has laid off 600 employees in India, about 25% of its total workforce in the country. The development comes after Uber's competitor in India, Ola had also announced that it was laying off over 1,400 employees, around 35% of its total workforce in the country. Uber cut job across the segments, including customer and driver support, business development, legal, finance, policy and marketing verticals, according to a report. Uber said that the affected employees will be provided with 10-week payout and medical insurance coverage for the next six months. These reductions are part of previously announced global job cuts this month, a report quoting Pradeep Parameswaran, President, Uber India and South Asia stated. Parameswaran said that they made the decision to look to the future with confidence. He also apologized to departing colleagues and extended his heartfelt thanks to them for their contributions to Uber and the riders and driver-partners. Uber has fired a total of 6,700 total employees worldwide. With this, 25 per cent of its global workforce is now out of job.

After Ola, ride-hailing firm Uber lays off 600 employees in India

The <a href="http://www.wionews.com/world/uber-to-allow-tipping-for-drivers-reversing-long-standing-policy-17071" target="_blank">ride-hailing Global Transportation technology</a>, <a href="http://www.wionews.com/world/indian-rape-survivor-sues-uber-ceo-kalanick-for-obtaining-medical-records-illegally-16899" target="_blank">Uber</a>, was slapped with a fine of $8.9 million by a western US state Colorado.

The US state&nbsp;fined the company stating that the ride services company had appointed 57 &quot;undeserving and unqualified drivers&quot;.

&nbsp;It said the drivers&nbsp;lacked valid driver&#39;s licenses or had committed other offences that made&nbsp;them unfit for the job.&nbsp;

A probe conducted by the Colorado Public Utilities Commission found violations that included 12 drivers convicted with felony, 17 drivers with major moving-vehicle violations and three drivers with a type of driver&#39;s license required after recent drunk-driving convictions.

The global transportation company has about 600,000 drivers in the US.

The company had undergone difficult times in the recent past with <a href="http://www.wionews.com/world/uber-ceo-orders-urgent-investigation-after-allegations-of-sexism-harassment-at-company-12596" target="_blank">allegations of bribery laws and sexual harassment</a>.&nbsp;

<a href="http://www.wionews.com/world/uber-ceo-says-he-must-grow-up-after-blasting-uber-driver-complaining-of-cuts-12908" target="_blank">Uber </a>recently said in a statement that it discovered an error in its background check process in Colorado. It further stated that it had begun working to correct the issue.

Colorado fined the company stating that the ride services company had appointed 57 undeserving and unqualified drivers

The ride-hailing Global Transportation technology, Uber, was slapped with a fine of $8.9 million by a western US state Colorado. The US state fined the company stating that the ride services company had appointed 57 "undeserving and unqualified drivers". It said the drivers lacked valid driver's licenses or had committed other offences that made them unfit for the job. A probe conducted by the Colorado Public Utilities Commission found violations that included 12 drivers convicted with felony, 17 drivers with major moving-vehicle violations and three drivers with a type of driver's license required after recent drunk-driving convictions. The global transportation company has about 600,000 drivers in the US. The company had undergone difficult times in the recent past with allegations of bribery laws and sexual harassment. Uber recently said in a statement that it discovered an error in its background check process in Colorado. It further stated that it had begun working to correct the issue.

Colorado fines Uber $8.9 million over 'unqualified' drivers

Global transportation technology<a href="http://www.wionews.com/world/uber-loses-uk-appeal-bid-to-overturn-workers-rights-decision-23925"> company, Uber, confirmed a deal on Sunday</a> in which the Japanese company conglomerate Softbank will buy a stake in it.

&quot;We&#39;ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,&quot; Uber said in a statement.

The deal is said to be worth $10 billion, Bloomberg stated.&nbsp;The move will require changes to Uber&#39;s governance.&nbsp;

&quot;We believe this agreement is a strong vote of confidence in Uber&#39;s long-term potential,&quot; the company added.

The ride-hailing giant earlier voted to overhaul its corporate governance and create incentives for the company to have an initial public offering(IPO) in 2019.&nbsp;

&quot;Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.&quot;

Softbank led by Masayoshi Son wanted to invest in the US-based ride-sharing app for around $1billion for a 14% stake for sometime.

SoftBank had said in May it had agreed to invest $5 billion in China&#39;s ride-hailing firm Didi Chuxing, valuing Didi at more than $50 billion.

The global transportation technology company, Uber, has confirmed a deal on Sunday in which the Japanese company conglomerate Softbank will buy a stake in it

Global transportation technology company, Uber, confirmed a deal on Sunday in which the Japanese company conglomerate Softbank will buy a stake in it. "We've entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment," Uber said in a statement. The deal is said to be worth $10 billion, Bloomberg stated. The move will require changes to Uber's governance. "We believe this agreement is a strong vote of confidence in Uber's long-term potential," the company added. The ride-hailing giant earlier voted to overhaul its corporate governance and create incentives for the company to have an initial public offering(IPO) in 2019. "Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance." Softbank led by Masayoshi Son wanted to invest in the US-based ride-sharing app for around $1billion for a 14% stake for sometime. SoftBank had said in May it had agreed to invest $5 billion in China's ride-hailing firm Didi Chuxing, valuing Didi at more than $50 billion.

Softbank to acquire stake in Uber, invest $10 billion