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GM’s Ammann Quits Lyft’s Board
General Motors Co. President Dan Ammann is quitting the board of ride-hailing service Lyft Inc.
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General Motors Co. President Dan Ammann is quitting the board of ride-hailing service Lyft Inc.
His replacement, who Ammann recommended, is Maggie Wilderotter, the former CEO of Frontier Communications Corp. who also sits on the boards of Costco, DocuSign and Hewlett Packard.
Ammann’s departure underscores a deteriorating relationship between the two companies. When GM invested $500 million in Lyft two years ago, the companies envisioned an expanding partnership. they expected GM would supply discounted vehicles to Lyft drivers and the companies eventually would launch a fleet of self-driving shuttles.
But GM and Lyft have instead drifted apart as each pursued its own plans for autonomous vehicles. GM soon acquired Cruise Automation, a self-driving-car startup. Lyft has partnered on autonomous-driving technologies with Ford, Magna International and Waymo.
GM says it remains “pleased” with its investment in Lyft and will retain its stake in the company.
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