Deliveroo founder Will Shu will step down as CEO once the London-based company’s £2.9 billion acquisition by US rival DoorDash completes in early October.
The food delivery app confirmed Shu will remain in post until the deal becomes effective on 2nd October 2025, following a court hearing later this month.
Shu, who launched Deliveroo in 2013, said: “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.
“I’m super proud of everything we have achieved. We pioneered and then redefined a new category.
“Our teams have always seen the business through the eyes of the consumer and that consumer obsession has given us focus, drive and resilience.
“I want to thank everyone involved in the company, from our employees to our merchant partners, riders, consumers, as well as our investors. This is the start of a new chapter for the company and great things lie ahead.”
DoorDash’s offer, announced in May, values Deliveroo at £2.9bn and equates to 180p per share in cash – a 44% premium on its share price at the time. The deal will hand Shu a payout of more than £170m.
To ensure independence, the London giant’s board formed a committee excluding Shu and fellow major shareholder Tom Stafford.
The group unanimously recommended shareholders back the bid from the San Francisco-based company, which is the largest food delivery app in the US with 42m monthly users and $10.7bn in annual revenues.
Claudia Arney, chair of Deliveroo, added: “Will is an incredible innovator and has brought a unique mix of passion, vision and commitment to the creation and growth of Deliveroo.
“He has created a British success story that has had a hugely positive impact on the way we eat and shop, provided a new form of work for tens of thousands of people and helped thousands of restaurants and other merchants grow their businesses – both here and around the world.
“On behalf of the board, I want to thank Will for his remarkable contribution. Deliveroo is entering a new era as part of the enlarged DoorDash Group, with exciting opportunities ahead.”
The news comes a month after the company reported a £19.2m loss for the first half of 2025, reversing its maiden profit a year earlier.
Revenues rose 8% to reach £1bn, but the company pointed to higher costs linked to the DoorDash acquisition as the reason for the downturn.
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.
NVIDIA boss Jensen Huang confirms £500m investment in Nscale