Lyft president Kristen Sverchek to exit on Aug. 20

Lyft announced that its company president will be leaving on Aug. 20. The rideshare service clarified that the departure is not due to internal disagreements or related to Lyft’s operations or policies. The departing president will continue as a non-employee advisor until Nov. 30. Lyft expressed gratitude for the president’s contributions and mentioned that severance benefits, including a $650,000 cash payment, will be provided. Lyft shares closed slightly higher on Tuesday.