Serve Robotics Appoints David Goldberg to Board of Directors and Extends Term for Sarfraz Maredia

Rhea-AI Summary

Serve Robotics (Nasdaq: SERV), a leading autonomous sidewalk delivery company, has announced key changes to its Board of Directors following the 2024 Annual Meeting of Stockholders. David Goldberg, a finance executive with over 20 years of experience, has been appointed to the Board. Currently a Vice President at Magna International, Goldberg brings expertise from the automotive, mobility, and finance sectors.

Additionally, Sarfraz Maredia, an Uber Technologies executive, has been reappointed to the Board for a three-year term. Maredia, who has served since July 2023, leads Uber Eats' marketplace business across the Americas. Chairman Ali Kashani expressed confidence that their insights and perspectives will be valuable in driving the company's growth and future direction.

Positive

• Appointment of David Goldberg, bringing 20+ years of finance and automotive industry experience to the Board
• Reappointment of Sarfraz Maredia, extending his expertise from Uber Technologies for three more years
• Strategic strengthening of the Board with executives from relevant industries (autonomous delivery, mobility, finance)

Negative

• None.

News Market Reaction

+41.71%

1 alert

+41.71% News Effect

On the day this news was published, SERV gained 41.71%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Directors Elected at 2024 Annual General Meeting

SAN FRANCISCO, July 25, 2024 /PRNewswire/ -- Serve Robotics (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced the appointment of finance leader David Goldberg to its Board of Directors and the reappointment of Uber Technologies executive Sarfraz Maredia, following their election at Serve's 2024 Annual Meeting of Stockholders.

"Their strategic insights, energy and perspectives will be invaluable as we focus on driving Serve Robotics forward,"

"We are thrilled to welcome David to the Board and extend Sarfraz's term. Their strategic insights, energy and perspectives will be invaluable as we focus on growth and on driving Serve Robotics forward," said Ali Kashani, Chairman of Serve's Board.

Mr. Goldberg brings over 20 years experience as a finance executive and strategic advisor across the automotive and mobility, finance, and strategy consulting industries to Serve. He is currently a Vice President at Magna International. Prior to that, he served as the Chief Financial Officer of REE Automotive, Ltd., an electric vehicle developer and manufacturer. Before joining REE Automotive, Mr. Goldberg held various roles at Magna International, in which he drove new partnerships, strategic investments, and due diligence on mobility and technology companies. He previously served as a Managing Director at Greenhill & Co. Mr. Goldberg holds a degree in Business Administration from the Ivey Business School at Western University.

Mr. Maredia has served as a member of Serve's Board since July 2023 and has been elected to serve for three more years. Mr. Maredia has been employed at Uber Technologies Inc since September 2014, most recently as Vice President for Delivery and Head of Americas, where he leads Uber Eats' marketplace business across the United States, Canada, and Latin America, as well as overseeing Postmates. Prior to his service at Uber, Mr. Maredia joined IQVIA (formerly IMS Health), a global information and technology services company focused on healthcare, where he served as Vice President of Corporate Development. He previously advised technology clients as a management consultant at Bain & Company and worked as a private equity and public markets investor at TPG and Dodge & Cox, respectively. Mr. Maredia received his Bachelor's Degree in Finance from the University of Texas at Austin.

About Serve Robotics

Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

For further information about Serve Robotics (Nasdaq:SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.

Contacts

Aduke Thelwell
Head of Communications & Investor Relations
Serve Robotics
aduke.thelwell@serverobotics.com
347-464-8510

Investor Relations
investor.relations@serverobotics.com

View original content:https://www.prnewswire.com/news-releases/serve-robotics-appoints-david-goldberg-to-board-of-directors-and-extends-term-for-sarfraz-maredia-302206193.html

SOURCE Serve Robotics Inc.

FAQ

Who are the new directors elected to Serve Robotics' (SERV) Board in 2024?

David Goldberg has been newly appointed to Serve Robotics' Board, while Sarfraz Maredia has been reappointed for a three-year term following the 2024 Annual Meeting of Stockholders.

What is David Goldberg's background and current role before joining Serve Robotics (SERV) Board?

David Goldberg is currently a Vice President at Magna International. He has over 20 years of experience as a finance executive, including roles as CFO of REE Automotive and Managing Director at Greenhill & Co.

How long has Sarfraz Maredia been on Serve Robotics' (SERV) Board and what is his main role?

Sarfraz Maredia has served on Serve Robotics' Board since July 2023. He is currently Vice President for Delivery and Head of Americas at Uber Technologies, leading Uber Eats' marketplace business across the Americas.

What does Serve Robotics (SERV) specialize in as a company?

Serve Robotics (SERV) is described as a leading autonomous sidewalk delivery company, specializing in robotic delivery solutions.