Delivery Hero said on Tuesday its CEO Niklas Oestberg will step down, following campaigns by several large shareholders for a strategic review at the German food delivery group.
In a statement, the company said Oestberg agreed to step down upon the completion of a succession process by March 31, 2027 at the latest.
Last year, Delivery Hero said it was reviewing capital allocation measures and evaluating strategic options, as it came under pressure from several shareholders.
Activist investor Aspex Management said on Tuesday it supported "the CEO transition announced by Delivery Hero, as well as the company's ongoing strategic review aimed at enhancing shareholder value," after holding talks with the company in recent weeks.
Aspex, which has raised its stake in Delivery Hero to about 15%, had recently urged the company to withdraw from entire regions and to replace Oestberg.
The supervisory board will begin the search for a successor shortly, aiming at concluding the process by the end of 2026, the company said in its statement.
Oestberg will continue in his role and lead the ongoing review process and related M&A processes until a successor is appointed, it added.
In a statement, the company said Oestberg agreed to step down upon the completion of a succession process by March 31, 2027 at the latest.
Last year, Delivery Hero said it was reviewing capital allocation measures and evaluating strategic options, as it came under pressure from several shareholders.
Activist investor Aspex Management said on Tuesday it supported "the CEO transition announced by Delivery Hero, as well as the company's ongoing strategic review aimed at enhancing shareholder value," after holding talks with the company in recent weeks.
Aspex, which has raised its stake in Delivery Hero to about 15%, had recently urged the company to withdraw from entire regions and to replace Oestberg.
The supervisory board will begin the search for a successor shortly, aiming at concluding the process by the end of 2026, the company said in its statement.
Oestberg will continue in his role and lead the ongoing review process and related M&A processes until a successor is appointed, it added.
