Deliveroo CEO under fire for taking 16% pay rise

Deliveroo’s CEO, Will Shu, has come under fire for accepting a 16% basic pay rise this year (to £600,000), despite couriers being “forced” to pay their own fuel amid soaring prices and a cost of living crisis.

The delivery company’s annual report published 30 March revealed Shu’s pay rise also included an additional £5 million of shares in April 2023 apart of a £30 million package over the next six years.

Last year, Shu also took home £519,200 in salary and a £5.2 million share pay-out.

The move has been criticised by the president of the gig-workers’ union IWGB Alex Marshall as it comes as time where fuel prices have been rising at unprecedented rates.

“These couriers put in a huge shift, working all through the pandemic to get food out to isolating families, but like many workers, they are paying for the price of the pandemic while bosses line their pockets,” Marshall said.

READ MORE: Deliveroo losses skyrocket to £298m as it predicts growth slowdown

However, the courier company conducted a rider survey revealing 85% of its riders globally are satisfied or very satisfied working for the company.

Additionally, recruitment and retention rates have “remained robust” even as job vacancies rose in the UK.

Between 2020 and 2021, Shu also received a 47% jump in basic pay and 33.3 million of shares he received before the company was listed on the stock market a year ago – which now has an estimated value of £40 million.

Shu is also due to receive a 27.1 million shares package which was lined up at the initial public offering. Originally worth £105.6 million, it has now plummeted to £30 million at today’s share price.

The company’s attempt to regenerate growth has also recent partnerships with WH Smith – to expand delivery to 600 non-food products.

Click here to sign up to Grocery Gazette’s free daily email newsletter