The boss of food delivery app Deliveroo is set to exit the company after its takeover by American counterpart DoorDash is completed.
Will Shu – who founded Deliveroo in 2013 and has led it to nationwide success ever since – confirmed his departure from the online food company today.
His announcement comes as American takeaway app DoorDash continues to iron out its acquisition of its British competitor.
The deal, which is still subject to court approval, is expected to be finalised by October 2nd and will cost £2.9bn. Shu is expected to pocket more than £170m after he sells his stake in Deliveroo.
In addition to Shu’s departure, several other Deliveroo executives are also planning to leave the company when the DoorDash takeover is finally given the green light.
They include Claudia Arney, Peter Jackson, Karen Jones, Rick Medlock, Shobie Ramakrishnan, Tom Stafford and Dominique Reiniche, who all currently serve as Deliveroo’s non-executive directors.
A court hearing to finalise the details of the deal is expected to take place at the end of this month.
Shu said in a statement: “I have decided that now is the right time for me to step down. Taking Deliveroo from being an idea to what it is today has been amazing.
“Today the company’s growth and profitability are accelerating and we are delivering on our mission to transform the way people shop and eat, but after 13 years I want to contemplate my next challenge.”