Just Eat Takeaway.com Announces Leadership Changes with its North America Segment

Rhea-AI Summary

Grubhub CEO Adam DeWitt will step down, with Howard Migdal, CEO of SkipTheDishes, appointed as his successor. DeWitt, who has been with Grubhub for 11 years, oversaw growth from $20 million to over $2 billion in annual revenue. Migdal, a U.S. national with 16 years of experience in food delivery, aims to build on Grubhub's established foundation. The transition will be smooth, as DeWitt remains until May 1, 2023. Grubhub operates over 365,000 restaurant partners and serves more than 4,000 U.S. cities, contributing significantly to Just Eat Takeaway.com’s North America segment.

AI-generated analysis. Not financial advice.

Positive

• Howard Migdal brings 16 years of food delivery experience, potentially enhancing Grubhub's market position.
• DeWitt's leadership resulted in significant growth, with annual revenues increasing from $20 million to over $2 billion.

Negative

• Concerns about continuity and experience gaps with the departure of Adam DeWitt after over a decade.
• Leadership change may disrupt current operations and strategies during the transition period.

News Market Reaction – JTKWY

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-2.57% News Effect

On the day this news was published, JTKWY declined 2.57%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Current Grubhub CEO Adam DeWitt to step down and will be replaced by Howard Migdal, CEO of SkipTheDishes 

CHICAGO, March 13, 2023 /PRNewswire/ -- Grubhub, a leading online food delivery platform, announces today that CEO Adam DeWitt, will step down from his position. Howard Migdal has been appointed executive vice president of North America and CEO of Grubhub. Migdal, a U.S. national, is currently the CEO of SkipTheDishes, Just Eat Takeaway.com's Canadian subsidiary. DeWitt will remain with the company through May 1, 2023 to ensure a smooth transition.

Under DeWitt's leadership for the past 11 years as CFO, President, and most recently CEO, Grubhub has grown from $20 million to more than $2 billion in annual revenues, with a network of more than 365,000 restaurants and approximately 400,000 delivery partners in more than 4,000 cities across the United States. DeWitt's contributions to the company have been significant, including leading the company through its initial public offering in 2014 and the acquisition by Just Eat Takeaway.com in 2021.

Migdal has played a critical role in driving growth and scale at SkipTheDishes, Canada's largest food delivery network. He brings more than 16 years of experience in food delivery, having co-founded GrubCanada, Canada's first national food delivery platform in 2008.

"On behalf of the entire Management Board, I want to thank Adam for all his contributions at Grubhub," said Jitse Groen, CEO of Just Eat Takeaway.com. "We are grateful for his leadership and dedication to the company, and we wish him all the best in his future endeavors. We are also excited to promote Howard as the new leader of our North America segment and Grubhub's new CEO," Groen added. "He has a proven track record as a leader with a deep understanding of our business, and we are confident in his ability to lead and grow the business into the future."

"I am honored to take on the role leading our North America business and becoming the CEO of Grubhub," said Howard Migdal. "Grubhub is an incredible brand and has tremendous scale through its restaurant and delivery networks. I am excited to build on the foundation built by Adam and the team."

"It's hard to leave Grubhub, but it's the right time for me after 11 years," said Adam DeWitt. "I am incredibly proud of what this team has accomplished and will forever value the relationships I've forged here. Grubhub is in great hands with Howard and the Grubhub leadership team, and I'm excited to watch the company continue to thrive."

The company also announced that Steve Puchala, senior vice president, growth and restaurant success, has been appointed interim CEO for SkipTheDishes, and will report to Migdal.

About Grubhub
Grubhub is part of Just Eat Takeaway.com (LSE: JET) (AMS: TKWY), and is a leading U.S. food ordering and delivery marketplace. Dedicated to connecting diners with the food they love from their favorite local restaurants, Grubhub elevates food ordering through innovative restaurant technology, easy-to-use platforms, and an improved delivery experience. Grubhub features more than 365,000 restaurant partners in over 4,000 U.S. cities.

About SkipTheDishes
SkipTheDishes is part of Just Eat Takeaway.com, a leading global online food delivery marketplace. SkipTheDishes connects millions of customers with over 47,000 Restaurant Partners in Canada.

About Just Eat Takeaway.com
Just Eat Takeaway.com (LSE: JET) (AMS: TKWY) is one of the world's leading global online food delivery marketplaces.

Headquartered in Amsterdam, the Company is focused on connecting consumers and partners through its platforms. With 692,000 connected partners, Just Eat Takeaway.com offers consumers a wide variety of food choice.

Just Eat Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United States, the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Poland, Slovakia, Spain and Switzerland.

View original content to download multimedia:https://www.prnewswire.com/news-releases/just-eat-takeawaycom-announces-leadership-changes-with-its-north-america-segment-301770503.html

SOURCE Grubhub

FAQ

Who is the new CEO of Grubhub?

Howard Migdal has been appointed as the new CEO of Grubhub.

What led to Adam DeWitt's resignation as Grubhub CEO?

Adam DeWitt is stepping down after 11 years as CEO to pursue other opportunities.

When will Adam DeWitt officially leave Grubhub?

Adam DeWitt will remain with Grubhub until May 1, 2023, to ensure a smooth transition.

What experience does Howard Migdal bring to Grubhub?

Howard Migdal has over 16 years of experience in the food delivery industry, having previously served as CEO of SkipTheDishes.

How has Grubhub grown under Adam DeWitt's leadership?

Under Adam DeWitt, Grubhub's annual revenues grew from $20 million to over $2 billion.