Just Eat Takeaway board turmoil over ‘personal misconduct’ claims

Cat Rock Capital – one of the operator’s largest shareholders – pushed for gender diversity on the board and called on investors to vote against the re-election of Nühn as well as finance chief Brent Wissink.

Alex Captain, founder and managing partner at Cat Rock Capital Management LP, commented: “Despite today’s unfortunate news on the personal misconduct review of the COO, the Just Eat Takeaway.com supervisory board has a great opportunity to appoint a high-quality permanent chairperson to drive positive change at the company and restore its trust with the capital markets.”

“We know there are excellent candidates for the role and look forward to positive news on a chairperson nomination in the coming weeks.”

Vice-chair Corinne Vigreux will replace Nühn until a permanent candidate is nominated. Gerbig left the management board following the AGM but may seek re-election depending on the outcome of the investigation.

“It is clear that shareholders have concerns about the challenges the company is facing,” Nühn said.

“Not seeking re-election is, I believe, the best decision I can take with regard to serving the interests of the company and its stakeholders, including its shareholders.”

The Amsterdam-based company has seen a slowdown in growth and investor criticism levelled at its dealmaking, including the $7.3bn acquisition of US delivery operator Grubhub. JET revealed it was exploring a sale of Grubhub last month.