Observed Signal · May 12, 2026 · Leadership Change · Source: Manager Magazin · Impact: 2/5 · Sentiment: Neutral
Investor Aspex Forces Delivery Hero CEO Östberg Exit
Delivery Hero said CEO and co-founder Niklas Östberg will step down no later than 31 March 2027 after pressure from major shareholder Aspex, which publicly demanded his removal and increased its stake. Östberg will lead a strategic review during a transition period while the supervisory board aims to appoint a successor by the end of the year. Aspex criticized Delivery Hero's comparatively weak profitability and has called for regional exits; it welcomed the planned leadership change. Prosus/Naspers sold a c.5% stake (about €335 million) to Aspex, which raised Aspex’s holding to roughly 15% and strengthened its influence ahead of the 23 June annual general meeting. Delivery Hero shares jumped (about 4% on Tuesday; over 20% since the prior Friday).
Investor activism led to a planned CEO departure and a material stake transfer; relevant to investors and corporate strategy but has limited direct impact on the broader AdTech/MarTech industry.
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Key Takeaways & Evidence Grounding
- Delivery Hero announced CEO and co-founder Niklas Östberg will leave his role by 2027-03-31.
- Major shareholder Aspex publicly demanded Östberg's removal and increased its stake to about 15%.
- Prosus/Naspers sold a roughly 5% stake in Delivery Hero to Aspex for about €335 million.
- Delivery Hero's shares rose about 4% on the announcement and had gained over 20% since the previous Friday.
- The supervisory board intends to appoint Östberg's successor by the end of the year; Östberg will lead a strategic review during transition.
Connected Companies & Entities
2 Entities mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Aspex Increases Stake in Delivery Hero, CEO Under Pressure
Aspex Management has raised its stake in Delivery Hero to about 15%, amplifying pressure on CEO and founder Niklas Östberg ahead of the company's annual general meeting on June 23. Prosus sold a 5% block of Delivery Hero shares to Aspex for roughly €335 million at €22 per share, Naspers said; the price was about 10% above the prior Friday close. Prosus must reduce its overall holding to under 10% by late summer to comply with EU competition requirements after its takeover of Just Eat Takeaway; after the sale to Aspex Prosus still holds about 16.8% and must divest at least another ~7%. Aspex has previously pushed for a break-up of Delivery Hero and called for Östberg’s removal. Hermes Li, founder of Aspex, said the investor will work constructively with the supervisory board and management.
Delivery Hero CEO Niklas Östberg to Stay Amid Takeover
Niklas Ostberg, co-founder and CEO of Delivery Hero, will remain in his role, reversing his earlier decision to step down in April. This follows Uber's takeover offer, which Delivery Hero has recommended shareholders accept. The supervisory board, led by Kristin Skogen Lund, cited Östberg's long experience and strong connection to the company as key reasons for ensuring continuity. Östberg has re-focused on internal development, including the 'Everyday-App strategy'. Uber's cash offer of EUR 41.50 per share values Delivery Hero at about EUR 13 billion fully diluted. Uber will take over operations in 50 markets, while SSW Partners will acquire businesses in 14 markets, including foodora, Glovo, PedidosYa, and Yemeksepeti. The transactions, expected to close in the second half of 2027, are pending regulatory approvals.
Delivery Hero Stock Rises on Brighter Profit Outlook
Delivery Hero raised investor expectations after CFO Marie-Anne Popp said investments in markets including Korea, North Africa and the Middle East, and in faster delivery, are beginning to pay off. The company said it expects adjusted operating annual profit at the upper end of its guided range — between €910 million and €960 million — and its shares climbed about 5.5% on the news. In Q1 the platform's gross merchandise volume (GMV) growth accelerated to 8.8%, while group revenue growth slowed to 17.8% compared with the prior quarter. CEO Niklas Östberg provided no new details on potential divestments or strategic changes as the company continues to review options. Investor pressure from asset manager Aspex over profitability and calls for regional retrenchment remain part of the backdrop; Uber recently increased its stake in Delivery Hero.
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