Deliveroo founder Will Shu to step down as DoorDash completes takeover
Will Shu will resign as chief executive when the £2.9 billion deal closes, with a windfall from his stake and a wave of board changes as Deliveroo integrates with DoorDash.
Deliveroo founder Will Shu will step down as chief executive once the company is acquired by DoorDash in a deal valued at about £2.9 billion, with completion expected in early October. Shu, 49, who started the London-based food-delivery platform in 2013, has led the company through rapid growth, expansion into new markets and a high-profile stock-market debut.
Under the terms of the takeover, Shu stands to gain about £178 million from his roughly 6.6 percent stake in Deliveroo. Staff who collectively own around 36 million shares will share about £65 million. The sale price of 180 pence per share is well below the 390 pence price at which Deliveroo listed in London in 2021, when the firm was valued at about £7.6 billion. The stock fell by more than a quarter on its debut, earning Deliveroo the nickname “Floperoo.”
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. 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.
Deliveroo’s non-executive directors, which include Cafe Rouge founder Karen Jones and Flutter boss Peter Jackson, will all also step down once the takeover is complete. Deliveroo chairman Claudia Arney, who is a former director of The Premier League and is standing down, said: “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 operates in nine countries and works with more than 130,000 riders across the world. It made sales of around £2 billion in 2024.
A court hearing will take place on 30 September to confirm the takeover, with the deal expected to be completed on 2 October.
The takeover marks DoorDash’s latest expansion push in Europe and comes as Deliveroo’s public history continued to loom over the company’s trajectory. Since its London listing in 2021, Deliveroo has faced fluctuating investor sentiment, performance pressures, and intensified competition in the gig-economy meal delivery space. The new ownership arrangement will shift the company’s leadership dynamic as it integrates into DoorDash’s global platform, with Shu signaling an end to a chapter that defined Deliveroo’s early growth and identity. The Board and shareholders will be watching closely as the transition proceeds and as Deliveroo continues to operate in its nine-country footprint, while carrying forward the company’s partnerships with tens of thousands of restaurant and merchant partners around the world.