Will Shu, the founder and CEO of Deliveroo (LON: ROO), could step down from his role as soon as this year, according to a report from Sky News on Tuesday.
The company’s board is reportedly discussing potential succession plans, with an autumn departure being one possibility under consideration.
Sky News reports that Carlo Mocci, Deliveroo’s chief business officer, is a leading internal candidate to succeed Shu. However, the media firm’s sources indicate that no final decision has been made, and alternative scenarios—including Shu remaining in his position for a longer period—are still being discussed.
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They add that at least one executive search firm has been engaged to explore potential candidates for the top role.
Since founding Deliveroo in 2013, Shu has overseen its transformation into one of the UK’s largest food delivery platforms.
The company has expanded its services to include grocery delivery and partnerships with major brands like McDonald’s, PizzaExpress, and Sainsbury’s. However, it has also faced criticism over its treatment of gig economy workers.
Deliveroo went public in 2021, but its IPO was widely seen as a failure, with shares plummeting on their first day of trading. Recent speculation suggests that the company could become a takeover target, with names like Doordash mentioned as potential buyers, Sky News noted.
Despite the article, a Deliveroo spokesperson denied the report, telling Sky News: “There are no plans for Will to step down,” and he is “relentlessly focused on the long-term future of Deliveroo.“
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