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Maplebear Inc. (NASDAQ:CART), operating as Instacart, has announced significant changes in its executive team and an update to its share repurchase program, according to a recent SEC filing. The company, currently valued at $12.27 billion, has maintained impressive financial health with a 75.22% gross profit margin and strong growth metrics, according to InvestingPro data. Fidji Simo, the current CEO and President, will resign from her executive roles effective August 15, 2025, but will continue to serve as Chair of the Board. Chris Rogers, currently the Chief Business Officer, is set to take over as CEO and President on the same date.
Simo’s departure is not due to any disagreement with the company’s operations, policies, or practices. As part of her transition, certain equity awards will vest as scheduled until the effective date of her resignation, with the remainder being forfeited. Simo will also receive a new RSU award based on non-employee director compensation policy terms.
Chris Rogers, 46, has been with the company since September 2022, and his previous experience includes roles at Apple Inc (NASDAQ:AAPL). and The Procter & Gamble Company. His appointment is coupled with an increase in the Board’s size from eight to nine directors. Rogers’ new compensation package includes a base salary of CAD $1,370,000 and, subject to Board approval, an RSU award valued at approximately USD $15 million. He will also be eligible for an annual equity award in 2026 and will participate in the company’s Severance and Change in Control Plan.
In addition to these executive changes, Maplebear’s Board has approved an increase to its share repurchase program, raising the authorization to buy back up to $1 billion of its common stock, up from the previously authorized $750 million. The company had approximately $218 million remaining under the prior authorization as of March 31, 2025. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, with a strong current ratio of 3.24, supporting its ability to execute the buyback program. For deeper insights into Instacart’s financial health and growth prospects, including 11 additional ProTips and comprehensive valuation metrics, explore the full Pro Research Report available on InvestingPro. The repurchase program does not have an expiration date and may be conducted through open market or privately negotiated transactions.
This news is based on a press release statement and reflects the company’s current plans for its executive leadership and capital allocation strategy.
In other recent news, Instacart’s first-quarter results for 2025 showed notable developments, with a 7.4% increase in orders and a re-acceleration in advertising revenue that surpassed Gross Transaction (JO:NTUJ) Volume growth. This positive performance led Citi to raise its price target for Instacart shares to $57, maintaining a Buy rating due to expanding margins and successful affordability initiatives. Jefferies also adjusted its price target for Instacart to $50, retaining a Hold rating, reflecting optimism about the company’s grocery business trajectory, despite concerns over profit margin clarity. Instacart has recently announced a leadership change, appointing Chris Rogers as the new CEO, succeeding Fidji Simo, who will remain as Chair of the Board. Rogers, who has been with the company since 2019, will focus on growth through strategic initiatives like mergers and acquisitions. Meanwhile, Maplebear Inc., which held its annual stockholder meeting, reported the election of two Class II directors and the ratification of PricewaterhouseCoopers LLP as its independent accounting firm. The stockholders also approved a non-binding advisory vote on executive compensation, indicating support for the current management. These developments highlight significant changes and strategic directions for both Instacart and Maplebear Inc.
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