Delivery service founder Will Shu set to depart from leadership position due to potential acquisition by DoorDash
In a significant turn of events, Deliveroo's founder and CEO, Will Shu, has announced his decision to step down from the company he helped pioneer and redefine. The news comes as Deliveroo prepares for a major takeover by DoorDash, valued at £2.9 billion.
Deliveroo, a British success story, has made a substantial impact on the way people shop and eat, operating in nine countries and working with over 130,000 riders worldwide. The company has played a crucial role in helping thousands of restaurants and merchants grow their businesses, providing a new form of work for tens of thousands of people.
Shu expressed pride in Deliveroo's achievements, having been instrumental in its development since its inception. His 6.5% stake in the company is expected to earn him a £172 million windfall, while Deliveroo staff, who collectively hold around 36 million shares, are set to receive a £65 million payout.
Claudia Arney, chairwoman of Deliveroo, expressed gratitude for Shu's remarkable contribution to the company. She noted Deliveroo's growth and profitability, which are currently accelerating. The court hearing to confirm the takeover is scheduled for September 30, with the deal expected to be completed on October 2.
Deliveroo's non-executive directors, including Dame Karen Jones and Peter Jackson, will also step down once the takeover is complete. However, there is currently no information about who will take over as CEO of Deliveroo after the acquisition.
The acquisition of Deliveroo by DoorDash marks a new chapter for the food delivery giant. With its significant impact on the industry and its continued growth, Deliveroo is poised to continue shaping the future of food delivery.
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