From Yahoo Finance: 2025-04-16 08:52:00

Activist investor Engine Capital nominated two directors to the board of Lyft, citing a need for shareholder-driven change due to underperformance compared to Uber and the market. Lyft announced its entry into European markets by acquiring FreeNow for nearly $200 million, boosting shares by 1%. Engine Capital criticized Lyft’s dual-class share structure and negative shareholder returns in the past five years.

Lyft, valued at $4.6 billion, faces criticism from Engine Capital for its board composition and lack of public market experience. Despite offering “value-enhancing ideas” and director candidates, Engine Capital was rebuffed by Lyft’s leadership. The company requires shareholders to own at least a 1% stake to nominate directors, with four up for election at the annual meeting.



Read more at Yahoo Finance: Lyft investor Engine Capital names board nominees in start to proxy battle