The boss of meals supply app Deliveroo is ready to exit the corporate after its takeover by American counterpart DoorDash is accomplished.
Will Shu – who based Deliveroo in 2013 and has led it to nationwide success ever since – confirmed his departure from the web meals firm as we speak.
His announcement comes as American takeaway app DoorDash continues to iron out its acquisition of its British competitor.
The deal, which continues to be topic to courtroom approval, is anticipated to be finalised by October 2nd and can value £2.9bn. Shu is anticipated to pocket greater than £170m after he sells his stake in Deliveroo.
Along with Shu’s departure, a number of different Deliveroo executives are additionally planning to go away the corporate when the DoorDash takeover is lastly given the inexperienced gentle.
They embody Claudia Arney, Peter Jackson, Karen Jones, Rick Medlock, Shobie Ramakrishnan, Tom Stafford and Dominique Reiniche, who all at the moment function Deliveroo’s non-executive administrators.
A courtroom listening to to finalise the small print of the deal is anticipated to happen on the finish of this month.
Shu mentioned in a press release: “I’ve determined that now’s the fitting time for me to step down. Taking Deliveroo from being an thought to what it’s as we speak has been wonderful.
“At the moment the corporate’s development and profitability are accelerating and we’re delivering on our mission to remodel the best way folks store and eat, however after 13 years I wish to ponder my subsequent problem.”
