-

Engine Capital Concludes Campaign at Lyft Following Productive Engagement on Capital Allocation Initiatives

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”) today announced that it is withdrawing its nomination of candidates for election to Lyft, Inc.’s (NASDAQ: LYFT) (“Lyft” or the “Company”) Board of Directors (the “Board”) at the 2025 Annual Meeting of Shareholders following its engagement with the Company.

Arnaud Ajdler, Founder and Portfolio Manager of Engine, commented:

“We appreciate the Board’s willingness to engage with us about steps that can be taken to enhance value for all of Lyft’s shareholders. Following a series of productive conversations, the Board has taken an important first step by committing to significant share repurchases in the coming quarters. In light of these actions, we have withdrawn our nomination and are providing the Company time to execute on its new commitments. Engine looks forward to continuing to engage with the Board about additional actions that can benefit shareholders.”

About Engine Capital

Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.

Contacts

For Investors:

Engine Capital LP
212-321-0048
info@enginecap.com

For Media:

Longacre Square Partners LLC
Greg Marose / Bela Kirpalani, 646-386-0091
gmarose@longacresquare.com / bkirpalani@longacresquare.com

Industry:

Engine Capital LP

NASDAQ:LYFT
Release Versions
English

Contacts

For Investors:

Engine Capital LP
212-321-0048
info@enginecap.com

For Media:

Longacre Square Partners LLC
Greg Marose / Bela Kirpalani, 646-386-0091
gmarose@longacresquare.com / bkirpalani@longacresquare.com

More News From Engine Capital LP

Engine Capital Issues Presentation Highlighting the Case for Boardroom Change at Lyft and Opportunities for Meaningful Value Creation

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately one percent of the outstanding common shares of Lyft, Inc. (NASDAQ: LYFT) (“Lyft” or the “Company”), today released a presentation that details the need for governance and capital allocation enhancements at Lyft. Engine has also filed a definitive proxy statement with the U.S. Securities and Exchange Commission. As a reminder, Engine is seeking to elect two highly qualified an...

Engine Capital Announces It Intends to Vote “FOR” All Nine of Simpson Oil’s Nominees for Election to Parkland Corporation’s Board of Directors

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 2.5% of Parkland Corporation's (TSX: PKI) (“Parkland” or the “Company”) outstanding shares, today announced that it will vote “FOR” the election of Simpson Oil Limited’s (“Simpson Oil”) nine candidates to the Company’s Board of Directors (the “Board”) at the upcoming Annual General Meeting of Shareholders (the “AGM”). We believe shareholders have a clear choice at this year’s...

Engine Capital Nominates Two Highly Qualified and Independent Candidates for Election to Lyft’s Board of Directors at the 2025 Annual Meeting

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately one percent of the outstanding common shares of Lyft, Inc. (NASDAQ: LYFT) (“Lyft” or the “Company”), today announced that it is filing a preliminary proxy statement in connection with its nomination of two highly qualified and independent candidates – Alan L. Bazaar and Daniel B. Silvers – for election to the Company’s Board of Directors (the “Board”) at the 2025 Annual Meetin...
Back to Newsroom