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LYFT Chooses Amazon Executive & Disney Veteran as NEW CFO

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Lyft (LYFT - Free Report) announced the appointment of Elaine Paul as its new chief financial officer (“CFO”), effective Jan 3, 2022. Paul will succeed Brian Roberts, who is stepping down. To ensure a smooth transition, Roberts will remain with the company as an advisor until next June.

The transition comes at a time when Lyft, carrying a Zacks Rank #3 (Hold), is dealing with coronavirus-related uncertainty. Just as the company was recovering from coronavirus-led woes, the Omicron variant surfaced, inducing fresh fears of restrictions and further weakening of ride volumes. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Roberts became the CFO of Lyft in November 2014. Under him, the company reached two important milestones. Roberts helped LYFT through a successful IPO. Moreover, the company achieved adjusted EBITDA profitability target earlier by a quarte despite coronavirus-related adversities. The third quarter of 2021 marked the company’s second straight quarter of generating adjusted EBITDA profits.

Regarding Lyft’s newly appointed CFO, the company’s co-founder and CEO, Logan Green, said, “Elaine is a seasoned leader with a commanding record of driving growth in tech and consumer-facing industries.”

Since 2019, Paul has been serving as the CFO and vice president of Finance for Amazon Studios, the subsidiary of (AMZN - Free Report) . The unit distributes and produces films and television series.

Paul takes charge of portfolio and financial planning for Amazon’s original film and television programming, studio operations, and Prime Video marketing finance on the global front. Besides finance, she and her team are responsible for Amazon Studios’ strategy, business intelligence and advanced analytics. Amazon carries a Zacks Rank #5 (Strong Sell).

Previously, Paul served as the CFO of Hulu for six years.
Lyft’s newly appointed CFO is also a Disney (DIS - Free Report) veteran, having worked at the media and entertainment company for 19 years. At DIS, she worked in senior finance, strategy and business development roles.

As Disney’s senior vice president of Corporate Strategy, Business Development and Technology, Paul played a key role in the company’s original investment in Hulu in 2009. Disney carries a Zacks Rank #3.

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