Delivery Hero is yielding to pressure from major shareholder Aspex and has announced a leadership transition. The food delivery giant stated on Tuesday that Niklas Östberg will step down from his position on March 31, 2027. During the transition period, he will lead the previously announced 'review of strategic options'. The Supervisory Board aims to appoint a successor by the end of the year. The company's shares pared their losses following the news, trading down 0.7 percent.
Aspex welcomed the planned management change and the potential strategic pivot. The asset manager has been critical of Delivery Hero's low profitability compared to its industry peers. Consequently, in addition to the replacement of co-founder Östberg, it has called for a withdrawal from entire regions. It considers the sale of the Foodpanda Taiwan subsidiary to rival Grab to be insufficient.
On Monday, Aspex announced it had increased its stake in Delivery Hero to 15 percent. This gives the Hong Kong-based asset manager greater leverage at Delivery Hero's annual general meeting on June 23.
(Reporting by Hakan Ersen, with contributions from Alexander Hübner. Edited by Olaf Brenner. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
Founder of Delivery Hero SE, Pizza Co. NV, OnlinePizza Norden AB and Aktie Plus, L. Niklas Östberg is an entrepreneur and businessperson who has been at the head of 8 different companies and presently holds the position of Chief Executive Officer of Delivery Hero SE and Managing Director at RGP Local Holding IV GmbH. He is also on the board of trivago NV and HungryHouse Holdings Ltd.
In his past career he was Chairman at Restaurant Partner Suomi Oy, Chairman at Mjam GmbH, Manager at Aktie Plus, Chairman at Pizza Co. NV, Chairman & Partner at OnlinePizza Norden AB, Chairman at Restaurant Partner Polska Sp zoo, Managing Director at 9Cookies GmbH and Consultant at Oliver, Wyman & Co. LLC.
Mr. Östberg received a graduate degree from Royal Institute of Technology and a graduate degree from Swiss Federal Institute of Technology.
Delivery Hero SE is a Germany-based company, which is primarily engaged in the online food ordering industry. The Company operates as a provider of online food delivery services from restaurants and cafes. The Company offers pizza, burger, organic food, vegan cuisine, and Asian dishes, among others. Its portfolio of brands comprises Foodpanda, PedidosYa, Clickdelivery, Talabat, Yemeksepeti, Donesi, Hungerstation, Carriage, Otlob, Mjam and others. The Company operates globally, on the territory of more than 40 countries, comprising Europe, the Middle East, North Africa, Asia, and the Americas. The Company's services are available through Web version and mobile application.
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