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Grocery delivery app Instacart founder Mehta to step down as chairman

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Grocery delivery app Instacart said on Friday founder Apoorva Mehta would step down from his role as chairman once the company goes public.

The company added Chief Executive Officer Fidji Simo will succeed Mehta. Simo joined Instacart as CEO in August 2021 after Mehta transitioned to executive chairman.

Simo was the head of Meta Inc’s Facebook app before joining Instacart.

Mehta said stepping down from the company’s board would allow him to pursue other opportunities.

In May, Instacart said it had confidentially filed with the U.S. securities regulator to go public. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)

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