Lyft's (LYFT) shareholder Engine Capital said Wednesday it is planning to file a preliminary proxy statement to nominate two independent directors, Alan L. Bazaar and Daniel B. Silvers, for election at Lyft's 2025 annual meeting.
The move comes after Lyft's' board declined to consider Engine's choice of
director candidates to the ride-hailing company's board. Engine owns approximately 1% of the outstanding common shares of Lyft.
Engine's founder Arnaud Ajdler has flagged concerns about the performance of Lyft's founders and directors that has led to "continuous underperformance when compared with broader markets and main rival Uber (UBER)."
Lyft did not immediately respond to a request for comment from MT Newswires.
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