Deliveroo to hire retail heavyweight Claudio Arney as it prepares for IPO

Deliveroo is set to appoint retail heavyweight Claudia Arney to its board as it prepares to launch its hotly anticipated initial public offering (IPO).

According to Sky News Arney, who currently sits on the board at Ocado, Kingfisher, Huawei UK, Derwent and the Premier League, could be officially welcomed to the board this week.

The move comes as Deliveroo ramps up preparations for a multibillion-pound flotation, set to be one of the largest of 2021.

It is understood that Deliveroo’s founder and chief executive Will Shu wants to ensure the company has a solid corporate governance framework in place before its IPO.

READ MORE: Deliveroo hires Goldman Sachs to take it public

Arney’s addition to the board could mean Deliveroo will seek a premium listing on the London Stock Exchange, making it eligible for inclusion in the blue-chip indices.

Last month it was reported that Deliveroo had appointed Goldman Sachs to help it prepare for its IPO.

Since then Deliveroo has appointed Worldpay’s former finance chief of payments Rick Medlock as a non-executive director, while enlisting the help of JP Morgan and other investment banks to aid its launch.

The delivery giant, which is now part-owned by Amazon, is expected to achieve a valuation of more than £2 billion when it goes public next year.

Deliveroo has emerged as one of the few success stories of the pandemic, seeing supermarkets flock to the service to help them rapidly expand delivery capabilities to meet a spike in demand.

It now delivers for 16 convenience and grocery companies in the UK, including Waitrose, Morrison’s, Aldi, and Co-op covering over 1000 stores.

It also delivers from more than 44,000 restaurants across the country, though unlike grocery, the restaurant sector has been hit hard by the pandemic.

Click here to sign up to Charged’s free daily email newsletter



Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.