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Investing.com -- Deliveroo Holdings PLC (LON:ROO) said on Thursday that founder and Chief Executive Officer Will Shu will step down from his position once the company’s acquisition by DoorDash, Inc. is completed.
Shu, who founded the food delivery platform 13 years ago, will remain CEO until the scheme related to the DoorDash offer becomes effective, which is expected to occur on October 2.
"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," Shu said in a statement.
"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."
Deliveroo Chair Claudia Arney praised Shu’s contribution, calling him "an incredible innovator" who created "a British success story that has had a hugely positive impact on the way we eat and shop."
The company also announced that all non-executive directors, including Arney, Peter Jackson, Karen Jones, Rick Medlock, Shobie Ramakrishnan, Tom Stafford, and Dominique Reiniche, will resign when the acquisition becomes effective.