Delivery Hero's Östberg Scraps Exit, Stays CEO Through Uber Takeover
Niklas Östberg reverses his planned 2027 departure, extending his contract to 2029 as Uber's $14.8 billion acquisition of Delivery Hero moves forward.
What to know
- Östberg's contract now runs through April 30, 2029, reversing a May plan for him to leave by March 2027.
- The reversal is tied to Uber's pending $14.8 billion (€13 billion) takeover of Delivery Hero and a related $1.6 billion asset sale to SSW Partners covering 14 markets.
- Uber's offer of €41.50 per share represents about a 127% premium over Delivery Hero's unaffected pre-announcement share price; the deal is expected to close in the second half of 2027 pending regulatory approval.
- Delivery Hero's boards have already endorsed the takeover and urged shareholders to accept it; Prosus, the second-largest shareholder, has agreed to tender its roughly 17% stake.
“Our Everyday App strategy is working, and growth and profitability are accelerating. I am now more energized than ever to continue leading the company into this next phase.”
Niklas Östberg, Delivery Hero co-founder and CEO · Quartz ↗ · Sep 23
Niklas Östberg Delivery Hero co-founder and CEOKristin Skogen Lund Delivery Hero supervisory board chairUber Acquirer of Delivery HeroSSW Partners Co-acquirer in the broader transactionProsus Delivery Hero's second-largest shareholder
How it unfolded 1 development · click the chart to see its coverage articlesposts
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Östberg reverses exit plan, contract extended to 2029
Delivery Hero announced Östberg will remain CEO rather than step down in 2027, with his contract extended through April 30, 2029, as the company navigates the Uber and SSW transactions and prepares for a new future under its US rival.
“With the Uber and SSW transactions underway, we are delighted to have Niklas continue leading the company through the next phase…”
— Kristin Skogen Lund -
first by Quartz, 2d ago · also FT, WSJ
4 more headlines
- Delivery Hero co-founder and CEO Niklas Östberg reverses his decision to step down in 2027, as the company prepares for Uber's €13B takeover and an asset sale Financial Times · 2d ago
- Delivery Hero's co-founder is staying on as CEO amid Uber's $14.8 billion takeover Quartz · 2d ago
- Delivery Hero Cancels CEO Exit Plans Due to Uber’s $14.8 Billion Takeover Bid WSJ · 2d ago
- Delivery Hero chief reverses exit plan after Uber secures takeover deal Financial Times · 2d ago
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background
Delivery Hero boards endorse Uber's takeover offer — Delivery Hero's management and supervisory boards endorsed the takeover bid and urged shareholders to accept it, saying the offer served the interests of the company, shareholders, employees and other stakeholders.
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Uber agrees $14.8 billion takeover of Delivery Hero — Uber agreed to acquire Delivery Hero, valuing the Berlin-based company at $14.8 billion in equity and offering €41.50 per share in cash, a roughly 127% premium over the unaffected three-month volume-weighted average share price before May 8, 2026. Separately, SSW Partners agreed to acquire Delivery Hero operations in 14 markets for about $1.6 billion.
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background
Delivery Hero sets Östberg's exit for March 2027 — Delivery Hero announced in May that co-founder and CEO Niklas Östberg would step down by March 31, 2027, as part of a planned leadership transition.