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Tag: departure

  • Delivery Hero CEO Niklas Ostberg Announces Planned Departure amid Strategic Shift

    Delivery Hero CEO Niklas Ostberg Announces Planned Departure amid Strategic Shift

    Niklas Ostberg, the founder and CEO of Delivery Hero, has announced that he will be stepping down from his executive role after 15 years steering the global food delivery enterprise. The company has initiated a hunt for Ostberg’s successor, aiming to fill the position by March 31 of the coming year. The complete transition is expected to be finalized by the end of the year.

    Ostberg believes that this is the optimum time to initiate the transition as Delivery Hero is entering a new phase of strategic development and operational emphasis. “This is the appropriate moment to commence the process of transitioning the company into its future stage,” stated Ostberg. He also added that the long-term course was set during the Strategic Review, which was announced in December. The focus of this review was to deepen the market penetration, enhance the customer experience, and improve the consumer offering under the Everyday App strategy.

    Started in 2011, Delivery Hero has broadened its reach to more than 60 markets via brands like Foodpanda, Glovo, and Talabat. In a significant move, earlier this year, the Singapore-based multi-service platform, Grab, acquired Delivery Hero’s Foodpanda delivery business in Taiwan. The cash deal, which amounted to US$600 million, marked Grab’s first expansion beyond Southeast Asia.

    Questions & Answers

    Why is Niklas Ostberg stepping down from his role as CEO of Delivery Hero?
    Ostberg believes the timing is right as Delivery Hero is poised to enter a new phase of strategic development and operational focus. He wishes to allow the company to transition smoothly into its future stage under new leadership.

    What is Delivery Hero’s future strategy post-Ostberg’s departure?
    The company’s long-term strategy is to deepen its market penetration, enhance customer touchpoints and improve consumer offerings under the Everyday App strategy.

    How has Delivery Hero expanded its operations?
    Delivery Hero operates in more than 60 markets via brands like Foodpanda, Glovo, and Talabat. Additionally, its Foodpanda delivery business in Taiwan was recently acquired by Grab, marking the latter’s first expansion beyond Southeast Asia.

  • Link Asset Management Prepares For Ceo George Hongchoy’s Retirement With Interim Leadership Plan

    Link Asset Management Prepares For Ceo George Hongchoy’s Retirement With Interim Leadership Plan

    Hong Kong’s premier property management company, Link Asset Management, has unveiled an interim leadership plan to prepare for the imminent departure of its Group CEO, George Hongchoy.

    Leadership Transition

    George Hongchoy, who also holds the position of Executive Director, has recently declared his intent to retire at the end of this year after a long service tenure of 16 years with the company.

    In response, Link has secured John Saunders, the current Group Chief Investment Officer, for an executive director role on its board from the start of next year. Saunders will be joining forces with Kok-Siong Ng, the Executive Director and Group CFO, to form an interim leadership team. This collaborative effort will temporarily assume the responsibilities of the Group CEO.

    Steering the ship

    The company’s chair, Duncan Owen, along with a newly constituted Chairs Committee, will be responsible for providing oversight, support, and independent counsel to the executive directors. Their role will be crucial in implementing strategic decisions and key initiatives during this transitional phase.

    Owen highlighted the rationale behind this interim arrangement, stating that it will allow the retiring CEO to depart, while capitalizing on the strong and established leadership team that Link currently has. This will ensure smooth operations and continuity until a new Group CEO can assume the office.

    Questions & Answers

    Who is set to retire from Link Asset Management?
    George Hongchoy, the Group CEO and Executive Director is set to retire on December 31.

    Who will form the interim leadership team at Link?
    John Saunders, the current Group Chief Investment Officer, and Kok-Siong Ng, the Executive Director and Group CFO, will form the interim leadership team.

    What role will Duncan Owen and the Chairs Committee play during this transition?
    Duncan Owen and the newly formed Chairs Committee at Link will be providing oversight, support, and independent guidance to the executive directors in their execution of strategy and key initiatives.