Deliveroo founder Will Shu under pressure to ditch his golden share after stock market listing turned sour
Deliveroo founder and chief executive Will Shu is under pressure to give up his ‘golden share’ in the company.
Investors want the food delivery boss to drop the benefit which gives him 20 times as much voting power as regular shares, a source told the Mail.
The founder of The Hut Group, Matt Moulding, this week said he would give up a similar structure.
Deliveroo investors want chief executive Will Shu (pictured) to give up his ‘golden share’ which gives him 20 times as much voting power as regular shares
But Deliveroo denied Shu would follow, with a spokesman saying: ‘We do not recognise this claim.’
The company has been under scrutiny since its stock market listing turned sour.
The stock fared better yesterday – up 3.8 per cent or 11p to 301.5p – after it said people were still ordering takeaways despite restaurants reopening.
It said customers spent £1.6billion on the Amazon-backed food delivery app in the three months to October.
Deliveroo said it expects yearly growth to be between 60 and 70 per cent, up from predictions.