By Henry Saker-Clark

Copyright independent

Deliveroo founder and boss Will Shu is to step down from the takeaway delivery giant.

Mr Shu, who founded the business in London in 2013, said he will step down as chief executive officer once it completes its £2.9 billion takeover by rival DoorDash.

In May, Deliveroo bosses agreed for the business to be bought by San Francisco-based DoorDash for 180p a share.

Deliveroo’s non-executive directors, which include Cafe Rouge founder Dame Karen Jones and Flutter boss Peter Jackson, will all also step down once the takeover is complete.

A court hearing will take place to confirm the takeover on September 30, with the deal expected to be effected from October 2.

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.

Mr Shu is reported to be in line for a £172 million windfall from his 6.5% stake in Deliveroo following the deal, while staff – who are believed to collectively hold around 36 million shares – are understood to be set for a £65 million payout.

Mr Shu 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.”

Claudia Arney, chairwoman of Deliveroo, 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.”