Deliveroo founder and CEO Will Shu has announced that he will step down from his role following the company’s acquisition by U.S. rival DoorDash. The £2.9 billion deal, initially agreed upon in May 2025, is due to take effect on October 2, pending court approval. Shu, who co-founded Deliveroo in 2013, stated that it is the appropriate moment for him to step away from the business. Alongside Shu, several non-executive board members, including Claudia Arney and Peter Jackson, will also resign once the takeover is completed. The merger between Deliveroo and DoorDash aims to consolidate their strengths and expand their competitive edge in the increasingly crowded meal delivery market.

This acquisition represents a significant turning point for Deliveroo, which has faced challenges since its high-profile public listing in 2021, marked by a notable decline in its share price. The company’s transition from a publicly traded entity to becoming part of DoorDash is expected to stabilise operations and fuel growth through enhanced market reach and combined resources.

In related corporate developments, Octopus Energy, recognised as the UK’s largest electricity supplier, has unveiled plans to spin off its technology division, Kraken Technologies. Kraken, which provides AI-powered software solutions that serve over 70 million household and business accounts worldwide, has demonstrated strong commercial performance, generating approximately $500 million in annual licensing revenues. The spin-off is designed to grant Kraken greater autonomy to innovate and expand globally while mitigating any potential conflicts of interest among its broad client base, which includes large energy firms such as EDF, National Grid US, E.ON Next, and Tokyo Gas.

Octopus Energy has appointed Tim Wan, former CFO at the software company Asana, as the chief financial officer of the newly independent Kraken. This move signals a strategic focus on scaling Kraken's AI-driven platform, which processes 15 billion new data points daily, providing critical technology solutions across the energy sector. Kraken’s valuation is projected to reach around £10 billion ($13.63 billion), underscoring its growing significance in the energy technology landscape.

These changes within Deliveroo and Octopus Energy reflect broader trends in the UK business environment where companies are realigning their structures and leadership to better navigate competitive pressures and pursue specialised growth opportunities.

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Source: Noah Wire Services