Changes in leadership at Deliveroo, one of the UK’s most prominent food delivery companies, have sparked significant interest as the business navigates a period of transition and speculation. A key figure in the company, Eric French, who has served as Chief Operating Officer (COO) since 2021, has informed colleagues of his decision to step down later this year. While the news has not yet been formally announced internally, French’s departure marks a notable shift in Deliveroo’s executive leadership. His exit, according to sources, is unrelated to ongoing discussions within the company’s board about succession planning for Deliveroo’s founder and CEO, Will Shu. These discussions have gained momentum in recent weeks, with speculation emerging about the timing of Shu’s potential exit and who might succeed him.
Eric French joined Deliveroo in January 2021, bringing with him a wealth of experience from a 15-year tenure at Amazon. During his time at the U.S. tech giant, French held several senior roles, most recently as Vice President of Amazon’s U.S. consumables business, where he oversaw categories such as household, beauty, baby, and grocery products. His expertise in scaling operations and managing complex supply chains made him a valuable asset to Deliveroo as the company continued to grow its grocery delivery business and expand its services. French’s decision to leave Deliveroo is reportedly tied to his personal plans to relocate to the U.S., a detail confirmed by a company spokesperson. Deliveroo has emphasized that French will remain in his role until the summer to ensure a smooth transition, with both he and Shu focused on maintaining the company’s momentum and achieving its goals.
Amid French’s impending departure, attention has shifted to the broader leadership structure at Deliveroo, particularly the future of CEO Will Shu. Shu, who co-founded Deliveroo in 2013, has become a highly influential figure in the UK business landscape, leading the company through rapid expansion and navigating the challenges of the gig economy. Despite Deliveroo’s success in building a vast network of riders, restaurants, and customers, its stock market valuation has faced significant volatility since its initial public offering (IPO) in 2021. Recent speculation suggests that Shu may step down as CEO later this year, with internal discussions centering on potential successors. Carlo Mocci, Deliveroo’s Chief Business Officer, is widely regarded as the frontrunner to take over the role, given his deep understanding of the business and his close working relationship with Shu.
Deliveroo has sought to downplay speculation about Shu’s exit, with a company spokesperson stating that there are “no plans for Will to step down” and emphasizing Shu’s continued focus on the company’s long-term vision. However, insiders have characterized this response as a “non-denial denial,” suggesting that succession planning is indeed under way. This has led to whispers that headhunters may already be involved in identifying potential external candidates to replace Shu, though Mocci remains the internal favorite. The company’s leadership transition comes at a critical juncture, as Deliveroo continues to navigate the competitive food delivery market while addressing broader reputational challenges, particularly regarding its treatment of gig economy workers and their lack of employment rights.
Deliveroo’s leadership changes are unfolding against a backdrop of heightened speculation about the company’s future, including the possibility of a takeover by an international suitor. The company’s stock has shown resilience in recent months, with shares trading at around 139.8p and a market capitalization of approximately £2.15bn as of Wednesday. This represents a 15% increase over the past year, though the stock has yet to recover fully from the significant decline that followed its IPO. Delivery Hero, a Berlin-based rival, sold its 4.5% stake in Deliveroo last year for roughly £77m, fueling rumors of potential interest from other major players in the food delivery sector. More recently, speculation has centered on Doordash, the U.S.-based delivery giant, though no formal bid has been made.
As Deliveroo approaches a potential leadership transition, the company is also grappling with the legacy of its founder and the challenges of maintaining its position in a highly competitive market. Will Shu’s exit, whenever it may occur, will mark the end of an era for a business that has reshaped the way people order and consume food in the UK and beyond. For now, Deliveroo remains focused on executing its strategic vision, even as speculation swirls around its leadership and future ownership. Eric French’s departure this summer will undoubtedly be a moment of reflection for the company, but it also represents an opportunity to recalibrate and prepare for the next chapter in its evolution. As Deliveroo continues to navigate this period of change, all eyes will be on how it adapts to the shifting landscape and whether it can maintain its position as one of the UK’s most successful consumer technology companies.
