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2d ago

Deliveroo Founder Will Shu to Step Down as DoorDash Takeover Takes Effect

The move follows DoorDash’s £2.9bn purchase of Deliveroo, scheduled to complete in early October.

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From midnight cravings to millions: Deliveroo’s Will Shu is cashing out with $250 million after a $4 billion DoorDash deal.
Will Shu set up Deliveroo after delivering pizza in Fulham to his friends

Overview

  • Shu will exit the CEO role and leave the board once the acquisition formally completes.
  • A court hearing is set for September 30, with the deal expected to become effective from October 2.
  • Deliveroo’s non-executive directors, including Dame Karen Jones and Peter Jackson, will also depart after completion.
  • DoorDash agreed to buy Deliveroo for 180p per share, valuing it at about £2.9bn, less than half of its 2021 IPO price.
  • The combined group is set to operate in more than 40 countries serving roughly 50 million monthly users, with press reports indicating a potential £172m payout for Shu and about £65m for staff.