Just Eat Takeaway faces boardroom turmoil after its chairman resigned, and its chief operating officer was suspended just hours before the company’s annual shareholder meeting.
Board member Jord Gerbig has been suspended after bosses received a formal complaint against him relating to “possible personal misconduct at a company event” and will not be considered for re-election.
An investigation has been launched with an external expert instructed to gather information. Mr Gerbig said he is fully cooperating with the investigation and that he has full confidence in the outcome.
Furthermore, it added: “Mr Gerbig may be put for re-election if the allegations are determined to be unfounded.”
Moreover, Just Eat chairman Adriaan Nuhn announced he would not be standing for re-election to the board and would leave the business as soon as the meeting finished.
The announcements ahead of the meeting come a week after activist investor, Cat Rock, called for a major shake-up of the online food delivery company, including the removal of finance chief Bret Wissink.
Car Rock, which owns an almost 7% stake in the company, said the firm made a ‘mistake’ by buying Grubhub and must change its leadership team to help “rebuild its credibility”.
Cat Rock founder and managing partner Alex Captain said Just East is a high-quality business but in an open letter, he added that the chief financial officer and supervisory board “have overseen a catastrophic destruction of equity value in the past two years”.
The fall in shares came despite an increase in demand for rapid deliveries during the pandemic.