Deliveroo CEO Will Shu’s recent sale of shares sparks discussions, following the company’s first reported profit.
- Between September 12 and 16, Shu sold 9.4 million shares worth £14.8 million, aiming to fund personal property investments.
- Shu retains a significant stake with 95.8 million shares and does not engage in the company’s annual bonuses or long-term share award schemes.
- Deliveroo, founded in London in 2013, celebrated its first profit since going public, with a £150 million share buyback announced.
- Despite the share sale, Deliveroo’s stock remains stable, indicating steady investor confidence.
Between September 12 and 16, Deliveroo CEO Will Shu sold 9.4 million shares amounting to £14.8 million. This sale was intended to fund his personal property investments. Despite this significant sale, Shu continues to hold 95.8 million shares in Deliveroo, highlighting his ongoing commitment to the company’s future.
Interestingly, Shu does not participate in Deliveroo’s annual bonuses or long-term share award schemes. This aspect of his involvement underscores a different form of commitment, focused on the company’s strategic growth rather than personal financial incentives.
Founded in London in 2013, Deliveroo marked its first profit since going public. This milestone, accompanied by the announcement of a £150 million share buyback, signals a robust turnaround for the company. Over the past year, Deliveroo’s share price has increased by nearly 30%, reflecting a resurgence in investor confidence.
For the six months leading up to June, Deliveroo reported a profit of £1.3 million, a stark improvement from the £82.9 million loss during the same period the previous year. The company’s order volume rose by 2% to 147 million, while gross transaction value increased by 5% to £3.69 billion. These figures indicate improved demand, aided by easing food prices and stabilised cost of living conditions.
Despite Shu’s share disposal, Deliveroo’s stock remained steady, closing slightly up by ½p, or 0.25%, at 157¼p. This stability suggests investors are confident in Deliveroo’s ongoing strategic direction and its ability to maintain profitability in a competitive market.
Deliveroo’s strategic growth and financial stability remain robust despite its CEO’s recent share sale.
