The entrepreneur who masterminded Deliveroo’s evolution into one of Britain’s biggest consumer technology businesses is preparing to hand over the reins to a new chief executive.
Sky News has learnt that Will Shu, who set the company up in 2013 and participated in its delivery service himself, is contemplating stepping back as CEO as soon as this year.
Under one scenario being discussed by Deliveroo’s board, chaired by Claudia Arney, Mr Shu could leave the role in the autumn.
Carlo Mocci, the company’s chief business officer, is said to be the leading internal candidate to replace Mr Shu, although sources insisted on Tuesday that no decisions about a replacement had been taken by Deliveroo’s board.
Other succession planning scenarios are also said to be under consideration, including a number which could mean Mr Shu remaining in place for longer.
At least one executive search firm is said to be engaged by Deliveroo on the project.
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One source added that Deliveroo did not plan to make a public announcement about leadership changes for some time.
Mr Shu has become one of the most prominent business leaders in Britain, steering a business which now employs thousands of people and partners with some of the country’s best-known restaurant brands, including McDonald’s, PizzaExpress and Wagamama.
Under his leadership, it has also broadened its offering to groceries, with partners such as the Co-op, Sainsbury’s and Waitrose.
It has also encountered severe reputational challenges, notably over its treatment of so-called gig economy workers and their lack of employment rights.
Deliveroo was privately held for most of its first decade in existence, attracting big-name technology investors before, in 2019, Amazon swooped to buy a sizeable minority stake in the company.
The deal drew scrutiny from competition authorities, but was eventually approved the following year.
That was widely expected to be the prelude to a full takeover bid from the internet behemoth, but such an offer never materialised.
Instead, Deliveroo opted to go public in 2021 in London, leading to what critics dubbed the worst such public share sale in history.
Initially priced at 390p-a-share – which gave Deliveroo a valuation of £7.6bn – the stock tumbled on its debut, ending its first day of trading at 284p.
In recent months there has been growing speculation that Deliveroo will attract a takeover offer from an international suitor.
Berlin-based Delivery Hero sold its 4.5% stake in Deliveroo last year for roughly £77m, although more recent market chatter has centred on Doordash, the American takeaway delivery service.
A golden share held by Mr Shu that was put in place at the time of its IPO expired last year, removing the company’s automatic protection against any unwanted bid.
On Tuesday afternoon, Deliveroo shares were trading at around 138.5p, giving the company a market capitalisation of about £2.13bn.
The stock has risen by about 15% over the last year.
A 15-year-old boy who was operated on twice by a now unlicensed Great Ormond Street surgeon is living with “continuous” pain.
Finias Sandu has been told by an independent review the procedures he underwent on both his legs were “unacceptable” and “inappropriate” for his age.
The teenager from Essex was born with a condition that causes curved bones in his legs.
Aged seven, a reconstructive procedure was carried out on Finias’s left leg, lengthening the limb by 3.5cm.
A few years later, the same operation was carried out on his right leg which involved wearing an invasive and heavy metal frame for months.
He has now been told by independent experts these procedures should not have taken place and concerns have been raised over a lack of imaging being taken prior to the operations.
Image: Yaser Jabbar rescinded his UK medical licence last year. Pic: LinkedIn
His doctor at London’s prestigious Great Ormond Street Hospital was former consultant orthopaedic surgeon Yaser Jabbar. Sky News has spoken to others he treated.
Mr Jabbar also did not arrange for updated scans or for relevant X-rays to be conducted ahead of the procedures.
The surgeries have been found to have caused Finias “harm” and left him in constant pain.
“The pain is there every day, every day I’m continuously in pain,” he told Sky News.
“It’s not something really sharp, although it does get to a certain point where it hurts quite a lot, but it’s always there. It just doesn’t leave, it’s a companion to me, just always there.”
Mr Jabbar rescinded his UK medical licence in January last year after working at Great Ormond Street between 2017 and 2022.
The care of his 700-plus patients is being assessed, with some facing corrective surgery, among them Finias.
“Trusting somebody is hard to do, knowing what they have done to me physically and emotionally, you know, it’s just too much to comprehend for me,” he said.
“It wasn’t something just physically, like my leg pain and everything else. It was emotionally, because I put my trust in that specific doctor. My parents and I don’t really understand the more scientific terms, we just went by what he said.”
Doctors refused to treat Finias because of his surgeries
Finias and his family relocated to their native Romania soon after the reconstructive frame was removed from his right leg in the summer of 2021.
The pain worsened and they sought advice from doctors in Romania, who refused to treat Finias because of the impact of his surgeries.
Dozens of families seeking legal claims
His mother Cornelia Sandu is “furious” and feels her trust in the hospital has been shattered. They are now among dozens of families seeking legal claims.
Cyrus Plaza from Hudgell Solicitors is representing the family. He said: “In cases where it has been identified that harm was caused, we want to see Great Ormond Street Hospital agreeing to pay interim payments of compensation for the children, so that if they need therapy or treatment now, they can access it.”
Finias is accessing therapy and mental health support as he prepares for corrective surgery later in the year.
A spokesperson for Great Ormond Street Hospital told Sky News: “We are deeply sorry to Finias and his family, and all the patients and families who have been impacted.
“We want every patient and family who comes to our hospital to feel safe and cared for. We will always discuss concerns families may have and, where they submit claims, we will work to ensure the legal process can be resolved as quickly as possible.”
Image: Finias with his mother and sister
Service not ‘safe for patients’
Sky News has attempted to contact Mr Jabbar.
An external review into the wider orthopaedic department at the hospital began in September 2022.
It was commissioned after the Royal College of Surgeons warned the hospital’s lower limb reconstruction service was not “safe for patients or adequate to meet demand”.
The investigation is expected to be completed by the end of the year.
Sir Keir Starmer has said closer ties with the EU will be good for the UK’s jobs, bills and borders ahead of a summit where he could announce a deal with the bloc.
The government is set to host EU leaders in London on Monday as part of its efforts to “reset” relations post-Brexit.
A deal granting the UK access to a major EU defence fund could be on the table, according to reports – but disagreements over a youth mobility scheme and fishing rights could prove to be a stumbling block.
The prime minister has appeared to signal a youth mobility deal could be possible, telling The Times that while freedom of movement is a “red line”, youth mobility does not come under this.
His comment comes after Kaja Kallas, the EU’s high representative for foreign affairs, said on Friday work on a defence deal was progressing but “we’re not there yet”.
Sir Keir met European Commission president Ursula von der Leyen later that day while at a summit in Albania.
Image: Ursula von der Leyen and Sir Keir had a brief meeting earlier this week. Pic: PA
Sir Keir said: “First India, then the United States – in the last two weeks alone that’s jobs saved, faster growth and wages rising.
“More money in the pockets of British working people, achieved through striking deals not striking poses.
“Tomorrow, we take another step forward, with yet more benefits for the United Kingdom as the result of a strengthened partnership with the European Union.”
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Conservative leader Kemi Badenoch has said she is “worried” about what the PM might have negotiated.
Ms Badenoch – who has promised to rip up the deal with the EU if it breaches her red lines on Brexit – said: “Labour should have used this review of our EU trade deal to secure new wins for Britain, such as an EU-wide agreement on Brits using e-gates on the continent.
“Instead, it sounds like we’re giving away our fishing quotas, becoming a rule-taker from Brussels once again and getting free movement by the back door. This isn’t a reset, it’s a surrender.”
Roman Lavrynovych appeared at Westminster Magistrates’ Court on Friday and was remanded in custody.
Officers from the Metropolitan Police’s Counter Terrorism Command led the investigation because of the connections to the prime minister.
Emergency services were called to a fire in the early hours of Monday at a house in Kentish Town, north London, where Sir Keir lived with his family before the election.