Delivery Hero has announced that CEO Niklas Oestberg will resign by March 31, 2027, amid increasing pressure from significant shareholders for a strategic review. The decision comes as the company seeks to enhance its operations and shareholder value.
In a statement released on Tuesday, Delivery Hero confirmed that Oestberg will remain in his role until a successor is appointed, which is expected to be finalized by the end of 2026. He will also oversee the ongoing strategic review and merger and acquisition activities during this transition period.
Shareholder Influence
The push for Oestberg's departure has been significantly driven by activist investor Aspex Management, which has increased its stake in Delivery Hero to approximately 15%. Aspex has advocated for the company to divest from certain regions and to implement changes in leadership.
Strategic Review Process
Last year, Delivery Hero initiated a review of its capital allocation strategies and various strategic options in response to shareholder concerns. The company aims to enhance its operational efficiency and overall shareholder value through this review.
Next Steps
- Delivery Hero's supervisory board will begin the search for Oestberg's successor shortly.
- The goal is to complete the succession process by the end of 2026.
- Oestberg will continue to lead the strategic review and M&A efforts until a new CEO is appointed.
This leadership change marks a significant moment for Delivery Hero as it navigates the challenges posed by shareholder expectations and market dynamics.
