Deliveroo founder and CEO, taking pride in his accomplishments, announces departure following DoorDash acquisition.
In a significant turn of events for the food delivery industry, Deliveroo founder Will Shu has announced his decision to step down as CEO once the acquisition by US rival DoorDash becomes effective in early October 2025. The deal, valued at £2.9 billion, equates to 180p per share in cash, representing a 44% premium on Deliveroo's share price at the time of the offer.
The San Francisco-based company, DoorDash, is the largest food delivery app in the US with 42 million monthly users and $10.7 billion in annual revenues. Deliveroo, founded by Shu in 2013, has made a significant impact in the food delivery industry, pioneering and redefining a new category.
Shu's decision to step down is due to wanting to contemplate his next challenge after 13 years with the company. He expressed pride in Deliveroo's achievements, stating that the company's teams have always seen the business through the eyes of the consumer, giving it focus, drive, and resilience.
Claudia Arney, chair of Deliveroo, praised Shu for his contributions to the company. In a statement, she said, "Will has been an exceptional leader, building Deliveroo from the ground up. We are grateful for his vision, dedication, and relentless drive."
The Deliveroo board formed a committee excluding Shu and fellow major shareholder Tom Stafford to recommend the bid from DoorDash. As part of the takeover, non-executive directors - including Arney, Peter Jackson, Karen Jones, Rick Medlock, Shobie Ramakrishnan, Tom Stafford, and Dominique Reiniche - will also step down once the deal is complete.
The deal is expected to become effective on 2nd October 2025, following a court hearing later this month. However, there is no publicly available information about the successor of Will Shu as CEO of Deliveroo or a takeover agreement with DoorDash becoming effective in October 2025.
Deliveroo reported a £19.2 million loss for the first half of 2025, reversing its maiden profit a year earlier. Revenues at Deliveroo rose 8% to reach £1 billion, but the company attributed the loss to higher costs linked to the DoorDash acquisition.
Separately, NVIDIA boss Jensen Huang confirmed a £500 million investment in Nscale, a separate fact not related to the Deliveroo acquisition.
This acquisition marks a significant milestone for both Deliveroo and DoorDash, combining their resources and expertise to further revolutionise the food delivery industry. As the deal approaches, the industry eagerly awaits the next chapter in the story of these two giants.
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