Aspex Calls for Delivery Hero CEO's Ouster

Shareholder Pressure Mounts on Delivery Hero

Aspex Management, a significant shareholder in Delivery Hero, has formally requested the removal of CEO Niklas Oestberg and his entire management team. The demand was made in a letter sent to the online food company's supervisory board.

Campaign Escalation Over Strategy

The letter from Aspex, seen by Reuters, escalates the investor's campaign for a new strategic direction. The firm claims the current CEO's strategy is flawed and that Delivery Hero's operational underperformance compared to its peers is worsening. The letter also highlighted concerns over compliance and control failures burdening the company.

Company and Market Reaction

In response, Delivery Hero issued a statement acknowledging receipt of the letter from Aspex. The company confirmed that its strategic review is progressing and remains a core focus for both the Management and Supervisory Boards. The public escalation of this conflict puts the supervisory board's next steps under intense scrutiny from the market.

Summary

The conflict between Aspex and Delivery Hero's leadership marks a critical juncture for the company. The supervisory board's decision regarding the management team will be a key factor influencing the company's future strategy and stock performance. Investors will be closely monitoring further developments and the outcome of the ongoing strategic review.

FAQ

Q: Who is demanding the change at Delivery Hero?
A: Aspex Management, one of the company's top shareholders.

Q: Why does Aspex want the CEO removed?
A: The firm cites a flawed strategy, operational underperformance against peers, and significant compliance and control failures.

Source: Reuters via Investing.com