Just Eat boosts board with former UberEats executive
Attempts by the bosses of Just Eat to stave off activist investors calling for the food delivery platform to be sold have been given a welcome boost as the company unveiled a new boardroom addition.
Jambu Palaniappan becomes the latest non-executive director appointed to the board – bringing in much-needed experience in the food delivery sector.
Activist investors, led by US hedge fund Cat Rock Capital, have called on Just Eat to look at selling itself to a rival, due to the lack of experience on the board.
Cat Rock, which has a 2% stake, previously said Just Eat was “the worst-performing public equity in online food delivery”.
But Mr Palaniappan is expected to help soothe fears, using his experience as former head of UberEats for Europe, the Middle East and Africa.
He was also previously regional manager for the Middle East and Africa for Uber.
Just Eat chairman Mike Evans said he was delighted with the appointment.
He added that the new recruit “brings significant expertise in the online food delivery industry, both in terms of technology and customer service, while his experience in market expansion ensures he will add considerable value to our board”.
The company has come under significant pressure from Deliveroo and UberEats, particularly following the move by its rivals into “marketplace” services that allow restaurants to list on the platforms but use their own riders.