A year ago, Apoorva Mehta left his role as chief executive of the grocery delivery company to become an executive chairman. Mehta will be transitioning off the board of directors once the company goes public as he will be stepping down as executive chairman.
Since I transitioned from CEO to Executive Chairman a year ago, I realized that I want to pursue a new mission and do it with the same focus that I had while building the company. I'll be able to do that if I step off the board.
1 Today I’m announcing that once @instacart becomes a public company, I’ll be stepping down as Executive Chairman and transitioning off the board of directors
— Apoorva Mehta (@apoorva_mehta) July 22, 2022
In a press release, the company said that Fidji Simo, a former Facebook executive who took over as CEO when Mehta left, will be the new executive chairman.
Simo thanked Mehta for all he had done for the company. She said in a press release that she would work with her retail partners to shape the next decade of grocery evolution.
The New York Times Company's president and chief executive officer is one of the directors.
As the business shifts from a private startup to a public company, many entrepreneurs transition to executive chairman roles. Going from being involved with day-to- day decisions to overseeing broader strategy is a transition. Mehta's plan to leave an already distant role may mean competitive dynamics are afoot between the two. Questions about competitive dynamic were not addressed by Instacart. Mehta could be leaving because of tensions between him and the board that he once oversaw.
Instacart shakes up its leadership structure as the market awaits its IPO
There is an executive reshuffling going on at Instacart. The company's prior chief technology officer is leaving. Daniel Danker and Laura Jones were promoted to chief product officer and chief marketing officer. Varouj Chitilian was promoted to the role of chief technology officer.
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