Lyft Names its First-Ever President of Business Affairs

Earlier this week, Lyft elevated its General Counsel Kristin Sverchek to serve as its first-ever President of Business Affairs, according to a recent SEC filing.

The ride-hailing and micro-mobility giant’s Associate General Counsel Lindsay Llewellyn will backfill the General Counsel position. Llewellyn is no stranger to Lyft’s top legal role, as she filled the post on an interim basis earlier this year while Sverchek was on maternity leave.

The new President of Business Affairs office unifies Lyft’s core legal, people, public policy, supply chain management, business development, and chief information officer functions under Sverchek purview.

Lyft spokeswoman Ashley Adams told Bloomberg Law that change in reporting structure “will increase the operational effectiveness of the business and allow for additional focus on company-wide initiatives.”

Lyft has been on the hunt for profitability over the past couple of years. Over the last two quarters, the company was able to achieve adjusted EBITDA profitability.

Despite reaching adjusted profitability, Lyft still recorded a net loss of $71.5 million in the third quarter of 2021.

By streamlining its reporting structure, Lyft may be hoping to find synergies to help it move into the black. It also may be a move to help bolster its legal and public affairs organizations in the face of renewed regulatory challenges.