Lyft, Inc. Appoints Michael Brous as CFO; Brewer to Retire

What Happened
Lyft filed an 8‑K on September 9, 2026 announcing that Michael Brous will become Chief Financial Officer effective September 28, 2026. Current CFO Erin Brewer will retire as of that date and serve as an advisor/consultant through December 15, 2026 to support the transition. The company also reaffirmed its Q3 2026 guidance for Gross Bookings, Adjusted EBITDA and Adjusted EBITDA margin (guidance first provided August 6, 2026).

Key Details

• Appointment announced Sept 9, 2026; CFO effective Sept 28, 2026. Brous has been with Lyft for nearly eight years and most recently led Lyft Urban Solutions and Safety & Customer Care.
• Brous employment terms: $650,000 annual base salary and a target annual cash bonus equal to 50% of base salary (2026 bonus subject to Board-approved metrics).
• Equity and other compensation: intended RSU grants valued at ~$775,000 (2026 RSU) and ~$2,000,000 (Promotion Grant), plus performance‑based RSUs (PSUs) valued at ~$775,000; vesting quarterly at 1/12th per quarter, subject to Board approval and continued service.
• Additional terms: participation in the company’s Executive Change in Control and Severance Plan at the same level as other NEOs (non‑CEO); housing/living stipend of $11,250 per month (net of tax withholdings) and reasonable travel expense assistance between NY and San Francisco.
• Brewer Consulting Agreement: from Sept 28, 2026 through Dec 15, 2026 she will consult and continue to vest in outstanding equity awards per their original schedules.

Why It Matters
An internal promotion to CFO provides continuity across finance, strategy and operations given Brous’s long tenure and multiple leadership roles at Lyft. The compensation package (salary, cash bonus target, sizeable RSU and PSU grants, and relocation/housing support) signals retention and alignment with shareholder interests through equity. The company’s reaffirmation of Q3 2026 Gross Bookings and Adjusted EBITDA guidance reduces near‑term financial uncertainty; however, Lyft did not provide a GAAP reconciliation for that non‑GAAP guidance in the filing. Investors should note the effective transition date (Sept 28, 2026) and Brewer’s consulting period through Dec 15, 2026 for any near‑term leadership continuity considerations.