Lyft, the ground transportation provider, announced that Erin Brewer will become the company’s new CFO on July 10, replacing Elaine Paul, who has held the position since January 2022. Paul will stay on as an advisor until Nov. 30.

Brewer said in a statement that “there’s real innovation waiting to be unlocked in rideshare and a big market opportunity ahead.” She previously held finance leadership roles at Charles Schwab Corp., Atlassian Corp. and McKesson Corp.

Lisa Blackwood-Kapral, Lyft’s chief accounting officer, will serve as interim CFO until Brewer’s tenure begins.

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The changes come after Lyft forecast a disappointing second quarter earlier this month, as price cuts in its race with bigger rival Uber to add more riders took a toll on margins.

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